Natural Gas Daily
NYMEX jumps on storage withdrawal; cash falls

Friday, December 02, 2011

The NYMEX January gas futures contract settled 9.8 cents higher at $3.648/MMBtu on Thursday in response to the report of the season's first storage withdrawal. Cash prices fell across the country.

Ruby Pipeline deliveries dropped 361,000 Mcf/d to 981,000 Mcf/d as short-term contracts for November came to an end, according to Platts unit Bentek Energy.

"With less firm capacity subscribed on Ruby at low variable costs, Ruby volumes should remain lower in December, which will in turn weigh on the Opal price," Bentek said.

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