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Market Intel Archives

June NYMEX Natural Gas Futures Contracts Closed at $3.172 on Monday, May 8th

May 09, 2017

Monday, May 8th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.188, eight cents below Friday’s closing price of $3.266.  Stepping lower to the $3.18 mark within minutes of opening, prices then stabilized through the day’s opening ninety minutes.  Faltering to the intraday low of $3.140 by 11:00AM, as trader’s weigh short-term demand, the contract proceeded to add two cents by midday.  Continuing gradually higher for the balance of the day, June closed lower on Monday at $3.172.

This morning in Globex, WTI Crude was down 19 cents; Natural Gas was up two cents; Heating Oil was down slightly; and, Gasoline was down slightly as well.  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.

June NYMEX Natural Gas Futures Contracts Closed at $3.266 on Friday, May 5th

May 09, 2017

Friday, May 5th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.210, two cents above Thursday’s closing price of $3.186.  Tallying the intraday low of $3.203 within minutes of opening, prices soon rose to peak above $3.245.  Trading within a penny of $3.235 through the remaining morning hours, the contract then tracked slowly higher as midday came to pass.  Adding two cents ahead of 1:00PM on hopes of weather-induced demand, prices reached the intraday high of $3.277, as June managed to close higher on Friday at $3.266.

This morning in Globex, WTI Crude was down 15 cents; Natural Gas was down five 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.186 on Thursday, May 4th

May 05, 2017

Thursday, May 4th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.234, slightly above Wednesday’s closing price of $3.228.  Entering the market in a steady descent, prices fell to $3.205 by 9:40AM though recovered to the $3.22 mark ahead of the 10:30AM weekly storage release.  Retreating as the bearish report was published, an initial drop to $3.183 soon met resistance as traders drove the contract back above $3.210.  Losing momentum as midday approached, June bottomed out at the intraday low of $3.165 at 1:10PM, proceeding to close lower on Thursday at $3.186.

The EIA Natural Gas Storage Report published on Thursday showed a 67 BCF injection to storage for the week ended April 28th –above the market estimate of 62 BCF. Total working gas in storage was reported as 2,256 BCF; 13.7% below this time last year and 15.5% above the five-year average.

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

June NYMEX Natural Gas Futures Contracts Closed at $3.228 on Wednesday, May 3rd

May 04, 2017

Wednesday, May 3rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.193, slightly below Tuesday’s closing price of $3.195.  Descending to the intraday low of $3.175 by 9:10AM, prices quickly rebounded to jump as high as $3.225 forty minutes later.  Seesawing along the $3.21 mark soon thereafter, the contract mounted a gradual ascent near 11:00AM to span the day.  Recording the intraday high of $3.233 minutes ahead of 2:30PM, June closed higher on Wednesday at $3.228.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 62 BCF injection to storage for the week ended April 28th.  This compares to a 68 BCF injection at this time last year and a five-year average injection amount of 63 BCF.

This morning in Globex, WTI Crude was down 97 cents; Natural Gas was up one cent; Heating Oil was down two cents; and, Gasoline was down three cents.  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.

June NYMEX Natural Gas Futures Contracts Closed at $3.195 on Tuesday, May 2nd

May 03, 2017

Tuesday, May 2nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.211, slightly below Monday’s closing price of $3.215.  Prices rose assertively early on, reaching the intraday high of $3.273 by 9:30AM.  With expectations for demand remaining tepid, momentum soon faded as the contract fell to $3.220 sixty minutes later.  Losing an additional two cents by noon, prices dropped to the intraday low of $3.178 at 1:50PM, as June closed lower on Tuesday at $3.195.

This morning in Globex, WTI Crude was up 26 cents; Natural Gas was unchanged; Heating Oil was 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.215 on Monday, May 1st

May 02, 2017
Monday, May 1st, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.280, slightly above Friday’s closing price of $3.276.  Jumping off from the intraday high as markets opened to trade near $3.260 through the nine o’clock hour, prices recovered to opening level territory by 10:00AM.  Tumbling gradually lower over the following ninety minutes, the contract crossed $3.220 by 11:30AM, and recorded the intraday low of $3.198 an hour later.  Trading within a penny of $3.210 to finish out the day, June closed lower at $3.215 on Monday as the latest forecasts bring news of a bearish summer.

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

June NYMEX Natural Gas Futures Contracts Closed at $3.276 on Friday, April 28th

May 01, 2017

Friday, April 28th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.274, more than three cents above Thursday’s closing price of $3.239.  As traders set their sights to summer demand, pre-market trading led prices to find balance near $3.280.  Tagging the intraday low of $3.269 by 9:30AM, humble gains through the morning hours saw the contract cross midday near $3.290. Leveling off until a brief step up to the intraday high of $3.298 at 1:30PM, June soon retreated to close higher on Friday at $3.276.

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

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

June NYMEX Natural Gas Futures Contracts Closed at $3.239 on Thursday, April 27th

April 28, 2017

On Thursday, April 27th, the June NYMEX Natural Gas Futures Contracts began trading as the prompt month.  Opening at $3.222, five cents below Wednesday’s closing price of $3.271, prices descended initially to find the intraday low of $3.207.  Climbing to peak above $3.245 thirty minutes later, the contract reverted to opening level territory as the weekly storage publication approached.  Treading gradually upward to record the intraday high of $3.266 by 10:40AM, selling soon directed the market down near $3.230.  Regaining its composure, June posted modest gains into the afternoon to close lower on Thursday at $3.239.

The EIA Natural Gas Storage Report published on Thursday showed a 74 BCF injection to storage for the week ended April 21st – just above the market estimate of 72 BCF. Total working gas in storage was reported as 2,189 BCF; 14.1% below this time last year and 15.8% above the five-year average.

This morning in Globex, WTI Crude was up 61 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up three 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.

May NYMEX Natural Gas Futures Contracts Settled at $3.142 on Wednesday, April 26th

April 27, 2017

On Wednesday, April 26th – settlement day for the May Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $3.062, two cents above Tuesday’s closing price of $3.043.  Barreling higher out of the gate to eclipse $3.110 by 9:20AM, prices stabilized near this mark through 11:00AM.  Stepping higher to seesaw along $3.125 late into the day, the contract clambered up to the intraday high of $3.170 at 2:20PM.  Supported by expectations for cooler than normal weather, May settled higher on Wednesday at $3.142.  Similarly, the June contract closed roughly ten cents higher at $3.271.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 72 BCF injection to storage for the week ended April 21st.  This compares to a 73 BCF injection at this time last year and a five-year average injection amount of 57 BCF.

This morning in Globex, WTI Crude was down 93 cents; Natural Gas was down four cents; Heating Oil was down three cents; and, Gasoline was down three cents.  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.

May NYMEX Natural Gas Futures Contracts Closed at $3.043 on Tuesday, April 25th

April 26, 2017

Tuesday, April 25th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.069, slightly above Monday’s closing price of $3.066.  Marking the intraday high upon opening, prices were soon directed lower as minor expectations for demand continue.  Falling as low as $3.026 by 11:30AM, the contract pared its losses over the following hours to seesaw along the $3.04 mark.  Bottoming out at the intraday low of $3.022 minutes ahead of 2:30PM, May closed lower on Tuesday at $3.043.

This morning in Globex, WTI Crude was down 40 cents; Natural Gas was up three cents; Heating Oil was down one cent; and, Gasoline was down three 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.