Market Intel

January NYMEX Natural Gas Futures Contracts Closed at $2.922 on Wednesday, December 6th

Dec 07, 2017

Wednesday, December 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.961, five cents above Tuesday’s closing price of $2.914.  With weather-related demand keeping prices afloat overnight, the contract turned downward as markets opened.  Falling to the $2.91 level by 10:00AM, a gradual decline to the intraday low of $2.884 shortly after noon was soon recovered.  With today’s storage report expectations paling in comparison to both the five-year average and last year’s withdrawal, January closed nearly flat on Wednesday at $2.922.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show no change in storage for the week ended December 1st.  This compares to a 42 BCF withdrawal at this time last year and a five-year average withdrawal amount of 69 BCF.

This morning in Globex, WTI Crude was up 28 cents; Natural Gas was down nine cents; Heating Oil up one cent; and, Gasoline was up two cents.  

Natural Gas Glossary

                                                                                                 
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