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Market Intel Archives

August NYMEX Natural Gas Futures Contracts Closed at $2.888 on Thursday, July 6th

July 07, 2017

Thursday, July 6th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.890, five cents above Wednesday’s closing price of $2.840.  Taking advantage of low prices in pre-market trading, the contract traded within a penny of $2.875 for the majority of the day as weather patterns have held and the weekly storage injection draws near.  Climbing from the intraday low of $2.874 at 2:10PM to reach as high as $2.893, August closed higher on Thursday at $2.888.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 65 BCF injection to storage for the week ended June 30th.  This compares to a 39 BCF injection at this time last year and a five-year average injection amount of 66 BCF.

This morning in Globex, WTI Crude was down 90 cents; Natural Gas was up four cents; Heating Oil was down three cents; and, Gasoline was down three cents.

New York basis values were higher for the current summer months and lower for the next winter 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.

August NYMEX Natural Gas Futures Contracts Closed at $2.840 on Wednesday, July 5th

July 06, 2017

Wednesday, July 5th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.948, roughly a penny below Monday’s closing price of $2.951.  Dropping lower from Friday’s close of $3.035 on Monday, as updated forecasts have limited short-term summer demand, prices tallied the intraday high of $2.952 shortly after 9:00AM on Tuesday morning before losing additional ground.  Arcing lower through the morning hours to stabilize near the $2.86 level by midday, the contract then declined to mark a near four-month intraday low of $2.832 at 1:20PM.  Modest buying over the day’s final hour saw August close lower on Wednesday at $2.840.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 65 BCF injection to storage for the week ended June 30th.  This compares to a 39 BCF injection at this time last year and a five-year average injection amount of 66 BCF.

This morning in Globex, WTI Crude was up 73 cents; Natural Gas was up four cents; Heating Oil was up two cents; and, Gasoline was up 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.

August NYMEX Natural Gas Futures Contracts Closed at $3.035 on Friday, June 30th

July 03, 2017

Friday, June 30th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.028, roughly a penny below Thursday’s closing price of $3.042.  Stretching upward to grasp the intraday high of $3.041 within minutes of opening, the contract then lost its footing and swooped lower.  Marking the intraday low of $2.974 shortly after 11:00AM, prices arced higher near midday to span the afternoon.  Reclaiming the $3.00 level by 2:00PM, bullish weather provided late support as August closed lower on Friday at $3.035.

With the upcoming 4th of July holiday, the next Sprague Market Report will be published on Thursday, July 6th.

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

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

August NYMEX Natural Gas Futures Contracts Closed at $3.042 on Thursday, June 29th

June 30, 2017

On Thursday, June 29th – the August NYMEX Natural Gas Futures Contracts began trading as the prompt month.  Opening at $3.094, three cents above Wednesday’s closing price of $3.064, prices retreated to the $3.07 mark ahead of 10:00AM.  Adding a penny in the thirty minutes prior to the weekly storage publication, the contract jumped to the intraday high of $3.122 as the bullish report was released.  Despite the lower-than-expected injection and continued expectations for increased summer demand in the weeks to come, August proceeded to lose ground as the day drew on, closing lower on Thursday at $3.042.

The EIA Natural Gas Storage Report published on Thursday showed a 46 BCF injection to storage for the week ended June 23rd – below the market estimate of 52 BCF. Total working gas in storage was reported as 2,816 BCF; 10.2% below this time last year and 6.9% above the five-year average.

This morning in Globex, WTI Crude was up 31 cents; Natural Gas was down one cent; Heating Oil was up one cent; and, Gasoline was unchanged.  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.

July NYMEX Natural Gas Futures Contracts Settled at $3.067 on Wednesday, June 28th

June 29, 2017

On Wednesday, June 28th – settlement day for the July Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $3.064, three cents above Tuesday’s closing price of $3.037.  Driven higher overnight on bullish weather expectations, the contract traded in a tight band to remain within a penny of $3.060 past midday and into the afternoon.  Tumbling to the intraday low of $3.040 at 1:20PM, prices then rebounded to mark a near one-month intraday high of $3.078 forty minutes later, as July settled higher on Wednesday at $3.067.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 52 BCF injection to storage for the week ended June 23rd.  This compares to a 37 BCF injection at this time last year and a five-year average injection amount of 72 BCF.

This morning in Globex, WTI Crude was up 46 cents; Natural Gas was down one cent; Heating Oil was up two cents; 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.

July NYMEX Natural Gas Futures Contracts Closed at $3.037 on Tuesday, June 27th

June 28, 2017

Tuesday, June 27th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.031, slightly above Monday’s closing price of $3.027.  Ticking downward to the intraday low of $3.018 by 9:30AM, prices soon gathered momentum to climb to the intraday high of $3.059 thirty minutes later.  Battling to sustain this week’s weather-induced growth as settlement looms closer, the contract straddled the $3.05 mark until 1:00PM when prices gradually withdrew.  July closed higher on Tuesday at $3.037.

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

July NYMEX Natural Gas Futures Contracts Closed at $3.027 on Monday, June 26th

June 27, 2017

Monday, June 26th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.982, roughly five cents above Friday’s closing price of $2.929.  Emerging into the session with a confident climb over the $3.00 mark, the contract settled in along $3.010 and traded sideways through midday.  With improved expectations of summer cooling demand from the latest forecasts, prices traded progressively higher into the afternoon.  Tallying the intraday high of $3.030 ahead of 2:30PM, July closed higher on Monday at $3.027.

This morning in Globex, WTI Crude was up 52 cents; Natural Gas was up one cent; Heating Oil was up two cents; and, Gasoline was up 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.

July NYMEX Natural Gas Futures Contracts Closed at $2.929 on Friday, June 23rd

June 26, 2017

Friday, June 23rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.910, more than a penny above Thursday’s closing price of $2.894.  Ascending gradually out of the gate, prices rose through the day’s opening hour to record the intraday high of $2.940 by 10:00AM.  Stabilizing to trade along the $2.93 level into the afternoon, July lacked any major changes as markets closed higher on Friday at $2.929.

This morning in Globex, WTI Crude was up 16 cents; Natural Gas was up five cents; Heating Oil was up one cent; and, Gasoline was unchanged.

New York basis values were lower for the current summer months and unchanged for the next winter season, whereas New England basis values were higher for the current summer months and unchanged for the next winter 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.

July NYMEX Natural Gas Futures Contracts Closed at $2.894 on Thursday, June 22nd

June 23, 2017

Thursday, June 22nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.902, a penny above Wednesday’s closing price of $2.893.  Arcing gradually lower to sink below $2.890 by 10:00AM, prices then picked up two cents in the thirty minutes prior to the weekly storage publication.  Plummeting to the intraday low of $2.855 as the bearish report hit the wire, the contract then surged higher to mark the intraday high of $2.962 ten minutes later.  Coming off this high and trailing lower through the afternoon, July closed nearly flat on Thursday at $2.894 as traders gauge updated forecasts and the impact of Tropical Storm Cindy.

The EIA Natural Gas Storage Report published on Thursday showed a 61 BCF injection to storage for the week ended June 16th – just above the market estimate of 58 BCF. Total working gas in storage was reported as 2,770 BCF; 10.5% below this time last year and 8.1% above the five-year average.

This morning in Globex, WTI Crude was up 12 cents; Natural Gas was up two cents; Heating Oil was down 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.

July NYMEX Natural Gas Futures Contracts Closed at $2.893 on Wednesday, June 21st

June 22, 2017

Wednesday, June 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.929, two cents above Tuesday’s closing price of $2.907.  Trading evenly through 9:30AM, prices then jumped to the intraday high of $2.944.  Holding the $2.940 mark over the following ninety minutes, the contract then began a gradual decline, which persisted into the afternoon.  Marking the intraday low of $2.878 ahead of 2:00PM, July closed lower on Wednesday at $2.893.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 58 BCF injection to storage for the week ended June 16th.  This compares to a 62 BCF injection at this time last year and a five-year average injection amount of 82 BCF.

This morning in Globex, WTI Crude was up 21 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up one cent.

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