February NYMEX Natural Gas Futures Contract Closed at $3.882 on Wednesday, January 5th

Market Insights
Natural Gas
January 6, 2022
Wednesday, January 5th – saw the front-month NYMEX Natural Gas Futures Contract open at $3.831, twelve cents above Tuesday’s closing price of $3.717. Falling to an intraday low of $3.763 at 9:45AM, the contract posted a staggered ascent that would cross midday near $3.814 and peak at an intraday high of $3.897 at 1:40PM. February closed higher on Wednesday at $3.882.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 60 BCF withdrawal from storage for the week ended December 31st. This compares to a 130 BCF withdrawal at this time last year and a five-year average withdrawal amount of 108 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was up $1.27; Natural Gas was up two cents; Heating Oil was up three cents; and Gasoline was up two cents.
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