March NYMEX Natural Gas Futures Contract Closed at $3.069 on Friday, February 19th

Market Insights
Natural Gas
February 22, 2021
Friday, February 19th saw the front-month NYMEX Natural Gas Futures Contract open at $3.131, five cents above Thursday’s closing price of $3.082.  Recording an intraday high of $3.148 minutes after the opening bell, prices then cascaded lower throughout the day as mild temperatures have entered the forecast and the middle of the country had started to thaw.  Marking an intraday low of $3.052 at 1:10PM, March closed lower on Friday at $3.069.

The EIA Natural Gas Storage Report published on Thursday showed a 237 BCF withdrawal from storage for the week ended February 12th – just below the market estimate expectation of 227 BCF. Total working gas in storage was reported as 2,281 BCF; 4.4% below this time last year and 2.6% above the five-year average.

As of 6:35AM EST this morning in Globex, WTI Crude was up 45 cents; Natural Gas was down 12 cents; Heating Oil was down slightly; and Gasoline was down one cent.

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