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Market Intel Archives

March NYMEX Natural Gas Futures Contracts Closed at $2.617 on Thursday, February 23rd

February 24, 2017

Thursday, February 23rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.691, ten cents above Wednesday’s closing price of $2.592. After a steady decent in the first two hours of the morning, the contract rebounded to reach the intraday high of $2.691 immediately following the weekly storage publication. Prices then slipped to the intraday low of $2.597 by 1:20PM as forecasts for low demand persist. Trading within a three cent band for the remainder of the afternoon, Thursday closed higher at $2.617.

The EIA Natural Gas Storage Report published on Thursday showed an 89 BCF withdrawal from storage for the week ended February 17th – above the market estimate of 84 BCF. Total working gas in storage was reported as 2,356 BCF; 10.0% below this time last year and 7.1% above the five-year average.

This morning in Globex, WTI Crude was down 57 cents; Natural Gas was up three cents; Heating Oil was down two cents; and, Gasoline was down two cents.

New York basis values were lower for all seasons, whereas New England basis values were higher for the current winter season and lower for the summer months. Additionally, cash prices were lower in both regions.

 
Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $2.592 on Wednesday, February 22nd

February 23, 2017

Wednesday, February 22nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.595, two cents above Tuesday’s closing price of $2.578. The contract swung upward for the duration of the morning to hit the intraday high of $2.640 by 12:30PM. Prices then slid over the course of the next two hours reaching the day’s low of $2.566 at 2:10PM. After making a quick gain, the contract leveled out for the balance of the day. March closed higher on Wednesday at $2.592.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show an 84 BCF withdrawal from storage for the week ended February 17th.  This compares to a 117 BCF withdrawal at this time last year and a five-year average withdrawal amount of 158 BCF.

This morning in Globex, WTI Crude was up one dollar and 12 cents; Natural Gas was up ten cents; Heating Oil was up three cents; and, Gasoline was up three cents.

New York and New England basis values were lower for all seasons.  Additionally, cash prices were lower in both regions.

Natural Gas Glossary

                                                                                                        
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

 

March NYMEX Natural Gas Futures Contracts Closed at $2.564 on Tuesday, February 22nd

February 22, 2017

Tuesday, February 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.669, significantly below Friday’s closing price of $2.834.  Following a six cent dip in the first hour of trading, the contract was able to recoup most of the morning’s losses to reach the $2.65 mark by 11:00AM.  Consistent bouts of selling ensued to reach the intraday low of $2.556 at 1:40PM.  A slow lift in prices brought March to close lower on Tuesday at $2.564.

This morning in Globex, WTI Crude was down 60 cents; Natural Gas was up slightly; Heating Oil was down two cents; and, Gasoline was down slightly.

New York basis values were lower for the current winter months and higher for the next summer season, whereas New England basis values were lower for all seasons.  Additionally, cash prices were lower in both regions.

Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $2.834 on Friday, February 17th

February 21, 2017

Friday, February 17th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.874, two cents above Thursday’s closing price of $2.854.  Tallying the intraday high of $2.899 in the day’s opening minutes, the contract soon followed the week’s trend of selling based on limited expected demand.  Trading downward to reach the intraday low of $2.803 in the minutes ahead of 2:30PM, March closed lower on Friday at $2.834.

This morning in Globex, WTI Crude was up one dollar and 8 cents; Natural Gas was down 12 cents; Heating Oil was up three cents; and, Gasoline was up slightly.

New York and New England basis values were lower for the current winter months and higher for the coming summer season. Additionally, cash prices were lower in both regions.

Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $2.925 on Wednesday, February 15th

February 16, 2017

Wednesday, February 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.988, eight cents above Tuesday’s closing price of $2.905.  Reaching the intraday high of $2.991 out of the gate, rapid selling then directed prices downward as forecasts for low demand persist.  Rebounding from the $2.93 mark near 10:30AM, momentary buying lifted the contract above $2.970 by midday.  Unable to maintain this ascent, prices fell to the intraday low of $2.917 at 1:10PM as March closed higher on Wednesday at $2.925.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 127 BCF withdrawal from storage for the week ended February 10th.  This compares to a 163 BCF withdrawal at this time last year and a five-year average withdrawal amount of 156 BCF.

This morning in Globex, WTI Crude was up 42 cents; Natural Gas was down two cents; Heating Oil was up two cents; and, Gasoline was down one cent.  Additionally, cash prices were higher in New York and New England.

Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $2.905 on Tuesday, February 14th

February 15, 2017

Tuesday, February 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.907, four cents below Monday’s closing price of $2.944.  Lacking direction in the day’s opening minutes, the contract soon mounted a promising ascent.  Reaching the intraday high of $2.953 at 10:30AM, prices then turned downward as forecasts continue to limit expectations for demand.  Sinking to the $2.90 mark by midday, March recorded the intraday low $2.887 at 2:00PM, closing lower on Tuesday at $2.905.

This morning in Globex, WTI Crude was down 34 cents; Natural Gas was up six cents; Heating Oil was down one cent; and, Gasoline was unchanged.  Additionally, cash prices were lower in New York and New England.


Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $2.944 on Monday, February 13th

February 14, 2017

Monday, February 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.974, six cents below Friday’s closing price of $3.034.  Following a balanced start to the day, a quick jump to the intraday high of $2.994 at 9:30AM soon gave way to a steady decline.  As much of the country will be experiencing mild weather in the coming week, many traders took to selling throughout the afternoon.  Falling to a 12-week low of $2.942 after 2:00PM, March closed lower on Monday at $2.944.

This morning in Globex, WTI Crude was up 36 cents; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was up two cents.  Additionally, cash prices were higher in New York basis and New England.

Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $3.034 on Friday, February 10th

February 13, 2017

Friday, February 10th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.021, twelve cents below Thursday’s closing price of $3.141.  As demand is expected to fall in the coming week, prices fell to the intraday low of $3.011 in the day’s opening minutes.  Unsteady gains through the morning saw the contract cross midday near $3.045, and continued higher to reach the intraday high of $3.057 by 1:30PM.  Trailing downward to finish the day, March closed lower on Friday at $3.034.

This morning in Globex, WTI Crude is down 89 cents; Natural Gas is down six cents; Heating Oil is down four cents; and, Gasoline is down four cents.  Additionally, cash prices were lower in New York basis and New England.

Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $3.141 on Thursday, February 9th

February 10, 2017

Thursday, February 9th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.175, five cents above Wednesday’s closing price of $3.126.  After a steady ascent in the day’s opening minutes to reach the intraday high of $3.189 the contract then fell to the $3.160 mark by 10:00AM.  As the weekly storage publication hit the wire thirty minutes later, prices momentarily peaked above $3.170 before plummeting lower.  Recording the intraday low of $3.110 at 10:50AM, the market found stability near $3.130 and traded sideways into the afternoon.  Sinking below $3.120 near 1:30PM, March then climbed upward to finish higher on Thursday at $3.141.

The EIA Natural Gas Storage Report published on Thursday showed a 152 BCF withdrawal from storage for the week ended February 3rd – even with the market estimate. It is worth noting that the withdrawal included a reclassification from working gas to base gas of roughly 5 BCF. Total working gas in storage was reported as 2,559 BCF, 11.3% below this time last year and 1.8% above the five-year average.

This morning in Globex, WTI Crude was up 87 cents; Natural Gas was down 11 cents; Heating Oil was up three cents; and, Gasoline was up three cents.  Additionally, cash prices were nearly unchanged in both regions.


Natural Gas Glossary

                                                                                                       
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.

March NYMEX Natural Gas Futures Contracts Closed at $3.126 on Wednesday, February 8th

February 09, 2017

Wednesday, February 8th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.081, five cents below Tuesday’s closing price of $3.130.  Emerging into the market in a confident ascent, prices rose as high as $3.148 before losing support near 10:30AM.  Seesawing along $3.125 for the following ninety minutes, the afternoon brought additional gains as the contract peaked at the intraday high of $3.162 at 1:20PM.  An even-paced decline then spanned the day as March closed slightly lower on Wednesday at $3.126.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 152 BCF withdrawal from storage for the week ended February 3rd.  This compares to a 70 BCF withdrawal at this time last year and a five-year average withdrawal amount of 138 BCF.


Natural Gas Glossary

                                                                                                 
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.