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Natural gas falls 9.6 cents

Posted on: December 30, 2016

NYMEX natural gas traded in a range of $0.130 on Thursday and settled at $3.802, a 9.6 cent loss on the day. News of the day was the bullish storage figure which showed a draw of 237-Bcf, when the market was expecting 225-Bcf. There did seem to be an indifference towards the figure however. After a slight initial gain in pricing with the news release, the front of the curve steeply declined nearly 10 cents by the early afternoon, but was able to gain back some ground throughout the remainder of the day.

Today we see support around $3.70 and resistance around $3.90.

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