On Thursday the EIA reported a net withdrawal of 81 Bcf from US natural gas storage inventory for the week ended 1/11/19. The draw was in line with analysts’ expectations. The current inventory level is 2,533 Bcf, 77 Bcf lower than last year at this time, and 327 Bcf below the 5 year average. The February 2019 NYMEX natural gas futures contract opened at $3.412/dth and traded in a 22.6 cent range between $3.367 and $3.593. It settled at $3.413, up 2.9 cents/dth. The February crude oil contract fell 24 cents/barrel and ended the day at $52.07. Blizzard conditions are expected from northern Pennsylvania through New England this weekend. Weather forecasts are showing colder than normal temperatures for much of the eastern half of the country during the 6-15 day range.
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