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Market Intel Archives

April NYMEX Natural Gas Futures Contracts Closed at $3.011 on Wednesday, March 22nd

March 23, 2017

Wednesday, March 22nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.062, three cents below Tuesday’s closing price of $3.093.  Choppy trading ensued throughout the morning as prices rose to an intraday high of $3.075 near 10:30AM and traveled lower to cross midday at $3.037.  With bearish weather outweighing expectations for an above average storage withdrawal due out this morning, April slipped downward to close lower on Wednesday at $3.011.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 156 BCF withdrawal from storage for the week ended March 17th.  This compares to a 15 BCF injection at this time last year and a five-year average withdrawal amount of 21 BCF.

This morning in Globex, WTI Crude was up 15 cents; Natural Gas was up three cents; Heating Oil was up one cent; and, Gasoline was down one cent.  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.

April NYMEX Natural Gas Futures Contracts Closed at $3.093 on Tuesday, March 21st

March 22, 2017

Tuesday, March 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.081, four cents above Monday’s closing price of $3.041.  Entering the market in a poised ascent, prices rose to nearly a six-week high of $3.113 by 9:10AM.  Tumbling gradually lower in the following ninety minutes, the contract momentarily slipped to the intraday low of $3.033 at 11:00AM.  Recovering to the $3.08 level shortly after midday, the contract seesawed along this mark through the afternoon as expectations for an above-average storage report on Thursday continue.  April closed higher on Tuesday at $3.093.

This morning in Globex, WTI Crude was down 70 cents; Natural Gas was down four cents; 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.

April NYMEX Natural Gas Futures Contracts Closed at $3.041 on Monday, March 20th

March 21, 2017

Monday, March 20th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.965, two cents above Friday’s closing price of $2.948.  Bounding from the intraday low of $2.958 early on, the contract rose eagerly to reach as high as $3.034 by midday.  Supported by expectations of cooler short-term weather and an above-average storage withdrawal for last week, prices stabilized near $3.030 by mid-afternoon.  Mounting a final ascent in the day’s closing minutes, April finished higher on Monday at $3.041.

This morning in Globex, WTI Crude was up 28 cents; Natural Gas was up three cents; Heating Oil was up one cent; and, Gasoline was up two cents.  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.

April NYMEX Natural Gas Futures Contracts Closed at $2.948 on Friday, March 17th

March 20, 2017

Friday, March 17th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.909, slightly above Thursday’s closing price of $2.902.  Climbing higher out of the gate to reach above $2.940, the market quickly tried to reverse Thursday’s losses.  Tumbling lower in the subsequent thirty minutes, prices mounted another ascent from the $2.91 mark which persisted through midday.  Seesawing along $2.940, April grew modestly to record the intraday high of $2.961 ahead of 2:30PM before closing higher on Friday at $2.948.

This morning in Globex, WTI Crude was down 76 cents; Natural Gas was down three cents; Heating Oil was down one cent; and, Gasoline was down one cent.  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.

April NYMEX Natural Gas Futures Contracts Closed at $2.902 on Thursday, March 16th

March 17, 2017

Thursday, March 16th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.919, six cents below Wednesday’s closing price of $2.981.  Trading evenly as the market opened, prices trended along the $2.92 mark through 10:30AM.  Sinking to the intraday low of $2.888 as the bearish storage report was published, the contract recovered steadily in the following hour to reach the intraday high of $2.969 at 11:20AM.  Leveling off through midday, the afternoon was dominated by selling as warmer forecasts and a healthy storage glut drove prices downward.  April closed lower on Thursday at $2.902.

The EIA Natural Gas Storage Report published on Thursday showed a 53 BCF withdrawal from storage for the week ended March 10th – below the market estimate of 58 BCF. Total working gas in storage was reported as 2,242 BCF; 9.5% below this time last year and 21.4% above the five-year average.

This morning in Globex, WTI Crude was up 24 cents; Natural Gas was down one cent; Heating Oil was up one cent; and, Gasoline was up one cent as well.  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.

April NYMEX Natural Gas Futures Contracts Closed at $2.981 on Wednesday, March 15th

March 16, 2017

Wednesday, March 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.987, five cents above Tuesday’s closing price of $2.938.  An early rise saw prices record the intraday high of $3.006 in the day’s opening minutes.  Losing its footing, the contract stumbled to the $2.98 mark by 9:30AM where traders fought to stabilize prices.  Residing within a penny of $2.975 into the morning hours, the afternoon witnessed similar trading as April closed higher on Wednesday at $2.981.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 58 BCF withdrawal from storage for the week ended March 10th.  This compares to a 1 BCF withdrawal at this time last year and a five-year average withdrawal amount of 85 BCF.

This morning in Globex, WTI Crude was up 21 cents; Natural Gas was down six cents; Heating Oil was up slightly; and, Gasoline was up two cents.  Additionally, cash prices were lower in both 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.

April NYMEX Natural Gas Futures Contracts Closed at $2.938 on Tuesday, March 14th

March 15, 2017

Tuesday, March 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.023, two cents below Monday’s closing price of $3.043.  Entering the market evenly, prices rose slightly to mark the intraday high of $3.035 by 9:30AM before plummeting below $2.960 twenty minutes later.  Plodding a gradual descent through the balance of the day to mark the intraday low of $2.929 at 2:10PM, April closed lower on Tuesday at $2.938.

This morning in Globex, WTI Crude was up 78 cents; Natural Gas was up six cents; Heating Oil was up two cents; 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.

April NYMEX Natural Gas Futures Contracts Closed at $3.043 on Monday, March 13th

March 14, 2017

Monday, March 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.041, three cents above Thursday’s closing price of $3.008.  With news of colder weather keeping the market buoyant, prices rose early to reach above the $3.06 mark by 9:40AM.  Losing ground to seesaw along $3.040 until midday, a gradual build saw prices climb to the intraday high of $3.066 at 12:40PM.  Stabilizing over the subsequent hour, April trailed lower near 2:00PM before ultimately closing higher on Monday at $3.043.

This morning in Globex, WTI Crude was down 67 cents; Natural Gas was down one cent; Heating Oil was down two cents; and, Gasoline was down one cent.

New York and New England basis values were unchanged for all seasons.  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.

March NYMEX Natural Gas Futures Contracts Closed at $3.008 on Friday, March 10th

March 13, 2017

Friday, March 10th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.997, two cents above Thursday’s closing price of $2.974.  With the latest round of bullish weather looking to extend last week’s winning streak, prices rose to mark a four-week high of $3.033 by 9:20AM.  Losing ground to mark the intraday low of $2.966 sixty minutes later, April posted steady gains for the balance of the day to close higher on Friday at $3.008.

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

New York basis values were lower for all seasons, whereas New England basis values were lower for the coming summer months and unchanged for the next winter 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.

April NYMEX Natural Gas Futures Contracts Closed at $2.974 on Thursday, March 9th

March 10, 2017

Thursday, March 9th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.932, nearly three cents above Tuesday’s closing price of $2.906.  Ascending evenly through the day’s opening hour, prices stabilized near $2.960 as the weekly storage publication approached.  Jumping as high as $2.976 as the report hit the wire, the contract quickly pulled back as part of the larger-than-expected withdrawal was due to a reclassification from working gas to base gas.  A temporary ascent to mark the intraday high of $2.983 at 11:10AM, gave way to modest selling into the afternoon.  Posting a final climb to finish the day, April closed higher on Thursday at $2.974.

The EIA Natural Gas Storage Report published on Thursday showed a 68 BCF withdrawal from storage for the week ended March 3rd – larger than the market estimate of 61 BCF. Total working gas in storage was reported as 2,295 BCF; 7.7% below this time last year and 18.8% above the five-year average.

This morning in Globex, WTI Crude was up 78 cents; Natural Gas was up three cents; Heating Oil up one cent; and, Gasoline was up two cents.  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.