February NYMEX Natural Gas Futures Contract Closed at $2.700 on Friday, January 8th

Market Insights
Natural Gas
January 11, 2021
Friday, January 8th saw the front-month NYMEX Natural Gas Futures Contract open at $2.659, seven cents below Thursday’s closing price of $2.729.  Slipping to an intraday low of $2.644 ahead of 10:00AM, prices then jumped to $2.710 an hour later.  Ascending to an intraday high of $2.730 at 2:10PM, as weather forecasts remain supportive, February closed lower on Friday at $2.700.

The EIA Natural Gas Storage Report published on Thursday showed a 130 BCF withdrawal from storage for the week ended January 1st – in line with market estimate expectations. Total working gas in storage was reported as 3,330 BCF; 4.3% above this time last year and 6.4% above the five-year average.

As of 6:50AM EST this morning in Globex, WTI Crude was down 38 cents; Natural Gas was down 10 cents; Heating Oil was down two cents; and Gasoline was down three cents.

Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.