January NYMEX Natural Gas Futures Contract Closed at $3.815 on Wednesday, December 8th

Market Insights
Natural Gas
December 9, 2021
Wednesday, December 8th saw the front-month NYMEX Natural Gas Futures Contract open at $3.911, twenty-one cents above Tuesday’s closing price of $3.708. Recording an intraday high of $3.923 minutes after the opening bell, prices held relatively steady throughout the session as the bearish sentiment persists. Crossing midday near $3.870 and touching down at an intraday low of $3.806 at 2:20PM, January closed higher on Wednesday at $3.815.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 48 BCF withdrawal from storage for the week ended November 26th. This compares to a 91 BCF withdrawal at this time last year and a five-year average withdrawal amount of 55 BCF.
As of 6:35AM EST this morning in Globex, WTI Crude was down 39 cents; Natural Gas was down seven cents; Heating Oil was down one cent; and Gasoline was down one cent.
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