February NYMEX Natural Gas Futures Contract Closed at $4.262 on Friday, January 14th

Market Insights
Natural Gas
January 17, 2022
Friday, January 14th – saw the front-month NYMEX Natural Gas Futures Contract open at $4.174, ten cents below Thursday’s closing price of $4.270. Touching down to an intraday low of $4.140 at 9:10AM, the contract posted a staggered ascent throughout the day as short-term cold blasts continue to threaten the possibility of freeze-offs and high demand. Crossing midday near $4.220, prices rose to an intraday high of $4.292 at 2:10PM. February closed slightly lower on Friday at $4.262; up nearly 9% on the week.
The NYMEX Trading Floor is closed today, January 17th, 2022, in observance of Dr. Martin Luther King Jr. Day.
The EIA Natural Gas Storage Report published on Thursday showed a 179 BCF withdrawal from storage for the week ended January 7th – below the market estimate of 120 BCF. Total working gas in storage was reported as 3,016 BCF; 6.2% below this time last year and 2.4% above the five-year average.
As of 6:30AM EST this morning in Globex, WTI Crude was up four cents; Natural Gas was up two cents; Heating Oil was up one cent; and Gasoline was down slightly.
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