February NYMEX Natural Gas Futures Contract Closed at $3.639 on Tuesday, January 10th

Market Insights
Natural Gas
January 11, 2023
Tuesday, January 10th saw the February NYMEX Natural Gas Futures Contract open at $3.708, thirteen cents above Monday’s closing price of $3.910. Trending lower overnight as traders had a chance to digest the impending seasonal temperatures near month-end, prices slipped to an intraday low of $3.546 at 10:45AM. Fighting off additional losses, the contract rallied to an intraday high of $3.727 at 1:35PM. February closed lower on Tuesday at $3.639.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 2 BCF injection to storage for the week ended January 6. This compares to a 179 BCF withdrawal at this time last year and a five-year average withdrawal amount of 151 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was up 25 cents; Natural Gas was up 10 cents; Heating Oil was up three cents; and Gasoline was up four cents.
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.