• BREAKING: U.S. EIA reported a withdrawal of 130 Bcf from natural gas storage for the week ended Jan. 1
  • Demand for LNG exports hovered near a record level
  • Production levels declined from a day earlier

Natural gas prices hovered in a narrow range of gains and losses early Wednesday as traders mulled strong demand for U.S. liquefied natural gas (LNG) exports against weakened weather outlooks. But futures held firmly into the green in the afternoon as analysts rolled out forecasts for a substantial withdrawal with Thursday’s government storage report.

EIA storage Jan 1

The February Nymex gas futures contract ultimately settled at $2.716/MMBtu, up 1.4 cents day/day. The prompt month has finished in positive territory each day of 2021 to date. March rose 1.1 cents to $2.684.

NGI’s Spot Gas