Nymex January natural gas futures traded near unchanged in the week’s closing session, picking up a slight 1.2 cents to a settlement at $2.814/MMBtu. Participants expected the recent blast of cold weather would drive the first substantial withdrawal from natural gas inventories but saw little additional weather-related demand to support sharper gains.

At A Glance:

  • January futures tick 1.2 cents higher
  • The first triple-digit storage report eyed
  • Weather remains an anchor

The front-month contract drifted between a $2.754 intraday low and a $2.844 intraday high before closing Friday on the upside.

Participants on the online energy platform Enelyst noted the contract jumped 6.0 cents at mid-morning. They attributed the significant spike to short covering ahead of the...