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Market Intel Archives

September NYMEX Natural Gas Futures Contracts Closed at $2.929 on Thursday, August 17th

August 18, 2017

Thursday, August 17th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.884, nearly a penny below Wednesday’s closing price of $2.890.  Fluctuating along the $2.88 mark through 10:30AM, prices plunged to the intraday low of $2.856 as the storage report hit the wire.  Surging higher in the following minutes as traders digested the revised storage publication, the contract then rose confidently into the afternoon.  Marking the intraday high of $2.939 at 2:00PM, September closed higher on Thursday at $2.929.

The EIA Natural Gas Storage Report published on Thursday showed a 53 BCF injection to storage for the week ended August 11th – above the market estimate of 50 BCF. This injection amount reflects a revision to prior submissions of data where working gas has been restated as base gas; revising last week’s total storage down from 3,038 to 3,029.  Total working gas in storage was reported as 3,082 BCF; 7.6% below this time last year and 1.8% above the five-year average.

This morning in Globex, WTI Crude was up 15 cents; Natural Gas was down two cents; Heating Oil was up slightly; and, Gasoline was up one cent.  Additionally, cash prices were higher in New York and lower in 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.890 on Wednesday, August 16th

August 17, 2017

Wednesday, August 16th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.927, nearly a penny below Tuesday’s closing price of 2.935.  Declining rapidly as markets opened, prices fell to the intraday low of $2.883 by 9:40AM.  Posting a slight ascent into the morning, the contract was then driven to the $2.93 mark at noon, as updated forecasts and today’s storage report weigh on the market.  Tumbling lower into the afternoon, September closed down for the third straight day at $2.890.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 50 BCF injection to storage for the week ended August 11th.  This compares to a 22 BCF injection at this time last year and a five-year average injection amount of 50 BCF.

This morning in Globex, WTI Crude was down 20 cents; Natural Gas was down one cent; Heating Oil was down two cents; and, Gasoline was down two cents.  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.

September NYMEX Natural Gas Futures Contracts Closed at $2.935 on Tuesday, August 15th

August 16, 2017

Tuesday, August 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.948, a penny below Monday’s closing price of $2.959.  Experiencing uncertainty as markets opened, prices jumped to the intraday high of $2.965 before sinking as low as $2.933 by 9:10AM.  Recovering to $2.945 in the subsequent twenty minutes, the contract seesawed along this mark for the majority of the day, as forecasts remain relatively unchanged.  Bottoming out at the intraday low of $2.931, September then closed lower on Tuesday at $2.935.

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

September NYMEX Natural Gas Futures Contracts Closed at $2.959 on Monday, August 14th

August 16, 2017

Monday, August 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.984, level with Friday’s closing price of $2.983.  Entering the market in an upward swing, prices rose to the intraday high of $2.991 by 9:20AM.  Tumbling downward through the subsequent two hours, the contract found support at the intraday low of $2.925 and traded sideways into the afternoon.  Posting a steady ascent from 1:00PM on, September closed lower on Monday at $2.959.

This morning in Globex, WTI Crude was down 47 cents; Natural Gas was down slightly; Heating Oil was down 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.983 on Friday, August 11th

August 14, 2017

Friday, August 11th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.980, slightly below Thursday’s closing price of $2.985.  Emerging evenly into the market, prices straddled the $2.98 mark for the duration of the morning, recording the intraday low of $2.972 at 10:00AM.  With little change to forecasts in the coming week, the contract touched the intraday high of $2.993 on multiple occasions through the afternoon as September closed relatively flat on Friday at $2.983.

This morning in Globex, WTI Crude was down 18 cents; Natural Gas was down slightly; Heating Oil was down one cent; and, Gasoline was down one cent.

New York basis values were lower for the coming winter season and higher for the following summer months, whereas New England basis values were unchanged for all seasons.  Additionally, cash prices were lower in New York and slightly higher in 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.985 on Thursday, August 10th

August 11, 2017

Thursday, August 10th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.914, three cents above Wednesday’s closing price of $2.883.  Balancing along the $2.90 mark through 10:00AM, the contract then slipped to the intraday low of $2.881.  Surging upward as the bullish storage report was released, the weather-dependent market finally found motive to approach the $3.00 level.  Stabilizing near $2.98 by 11:00AM, prices gradually built to tally a two-week intraday high of $2.995 at 12:30PM.  Able to sustain the day’s gains, September closed higher on Thursday at $2.985.

The EIA Natural Gas Storage Report published on Thursday showed a 28 BCF injection to storage for the week ended August 4th – below the market estimate of 36 BCF.  Total working gas in storage was reported as 3,038 BCF; 8.3% below this time last year and 2.0% above the five-year average.

This morning in Globex, WTI Crude was down 12 cents; Natural Gas was down one cent; Heating Oil was down slightly; and, Gasoline was up slightly.  Additionally, cash prices were higher in New York and lower in 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.883 on Wednesday, August 9th

August 10, 2017

Wednesday, August 9th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.845, two cents above Tuesday’s closing price of $2.822.  Emboldened by expectations of today’s weekly storage report, prices quickly rose to $2.870 and proceeded to post a steady rise through the morning.  Leveling off near $2.885 by midday, a brief jump to the intraday high of $2.889 then saw the contract trade sideways until 2:00PM.  September closed higher on Wednesday at $2.883.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 36 BCF injection to storage for the week ended August 4th.  This compares to a 29 BCF injection at this time last year and a five-year average injection amount of 54 BCF.

This morning in Globex, WTI Crude was up 32 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up two cents.

New York and New England basis values were unchanged 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.822 on Tuesday, August 8th

August 09, 2017

Tuesday, August 8th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.800, nearly even to Monday’s closing price of $2.801.  Entering the market in a modest decline to reach the intraday low of $2.783 by 9:40AM, prices soon rose higher to reclaim the day’s losses.  Securing the intraday high of $2.828 shortly past midday, the contract stabilized near this mark as forecasts remain largely unchanged.  September closed higher on Tuesday at $2.822.

This morning in Globex, WTI Crude was up 33 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was down slightly.  Additionally, cash prices were mixed in New York and higher in 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.801 on Monday, August 7th

August 08, 2017

Monday, August 7th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.776, nearly even to Friday’s closing price of $2.774.  Recovering from last week’s 5-month low, prices charted slowly upward as markets opened.  With bearish weather in the Northeast balancing out demand from the rest of the country, the contract fluctuated along the $2.79 mark for much of the day.  Rising to the intraday high of $2.812 at 2:10PM, September closed higher on Monday at $2.801.

This morning in Globex, WTI Crude was unchanged; Natural Gas was up one cent; Heating Oil was down one cent; and, Gasoline was down one cent.

New York basis values were higher for all seasons, whereas New England basis values were lower for the coming winter months and unchanged for the following summer season.  Additionally, cash prices were higher 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.774 on Friday, August 4th

August 07, 2017

Friday, August 4th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.767, three cents below Thursday’s closing price of $2.800.  Losing ground overnight, as forecasts show comfortable temperatures settling in to the Northeast this week, prices managed a bold start to the day by jumping to the intraday high of $2.800 by 9:10AM.  Exhausting its resources, the contract then slipped gradually lower into the morning before settling in near $2.780.  Trading within a narrow band for the balance of the day, September closed lower on Friday at $2.774.

This morning in Globex, WTI Crude was down 51 cents; Natural Gas was up slightly; Heating Oil was down two cents; and, Gasoline was down two cents.

New York basis values were higher for all seasons, 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.