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Market Intel Archives

November NYMEX Natural Gas Futures Contracts Closed at $2.873 on Thursday, October 19th

October 20, 2017

Thursday, October 19th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.858, nearly even to Wednesday’s closing price of $2.854.  Trading evenly over the day’s initial ninety minutes, as traders eagerly awaited the weekly storage report, the contract then plummeted lower as the weekly publication was released.  Losing ground in the subsequent hour to mark a seven-month intraday low of $2.773, bullish traders then entered the market and drove the contract upward.  Ascending past $2.860 by 1:00PM, November managed to close higher on Thursday at $2.873.

The EIA Natural Gas Storage Report published on Thursday showed a 51 BCF injection to storage for the week ended October 13th – above the market estimate of 45 BCF.  Total working gas in storage was reported as 3,646 BCF; 4.7% below this time last year and 1.0% below the five-year average.

This morning in Globex, WTI Crude was down 38 cents; Natural Gas was unchanged; Heating Oil was up slightly; and, Gasoline was unchanged.  

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.

November NYMEX Natural Gas Futures Contracts Closed at $2.851 on Wednesday, October 18th

October 19, 2017

Wednesday, October 18th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.908, five cents below Tuesday’s closing price of $2.962.  Plotting a downward course from the intraday high of $2.910 as markets opened, the contract slid gradually lower into the morning.  Crossing midday near the $2.88 level, prices fell to the intraday low of $2.851 before closing lower on Wednesday at $2.854.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 45 BCF injection to storage for the week ended October 13th.  This compares to a 77 BCF injection at this time last year and a five-year average injection amount of 78 BCF.

This morning in Globex, WTI Crude was down 63 cents; Natural Gas was unchanged; Heating Oil was down three cents; and, Gasoline was down one cent.  

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.

November NYMEX Natural Gas Futures Contracts Closed at $2.962 on Tuesday, October 17th

October 18, 2017

Tuesday, October 17th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.996, five cents above Monday’s closing price of $2.946.  Trading steadily along the $3.00 mark through 11:00AM, prices rose to the intraday high of $3.026 forty minutes later; as bullish forecasts for the coming winter induced buying.  Holding the morning’s gains through 1:00PM, the contract then tumbled downward as cooler weather will disperse until early next week.  November closed higher on Tuesday at $2.962.

This morning in Globex, WTI Crude was up 22 cents; Natural Gas was down five cents; Heating Oil was down slightly; and, Gasoline was down one cent.  Additionally, cash prices were lower in New York and New England 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.

November NYMEX Natural Gas Futures Contracts Closed at $2.946 on Monday, October 17th

October 17, 2017

Monday, October 16th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.933, roughly seven cents below Friday’s closing price of $3.000.  Reacting to news of comfortable temperatures covering the eastern portion of the country this week, prices fell to the intraday low of $2.908 as trading began.  Finding value in the recently diminished contract, traders gradually drove November to $2.940 by midday and ascended to the intraday high of $2.957 by 1:00PM.  Stabilizing near this high, the contract closed lower on Monday at $2.946.

This morning in Globex, WTI Crude was up 19 cents; Natural Gas was up six cents; Heating Oil was up one cent; and, Gasoline was up one cent.

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.

November NYMEX Natural Gas Futures Contracts Closed at $3.000 on Friday, October 13th

October 16, 2017
Friday, October 13th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.013, roughly two cents above Thursday’s closing price of $2.989.  Extending early on to reach a two-week intraday high of $3.035, prices rose higher as reports are calling for increased demand this winter with colder temperatures in store than last year.  Edging lower by 10:00AM to trade within a penny of $3.015 through midday, the contract then slid to the intraday low of $2.984 by 1:10PM.  Ending the week on an upbeat, November closed lower on Friday at $3.000.

This morning in Globex, WTI Crude was up 83 cents; Natural Gas was down seven cents; Heating Oil was up three cents; and, Gasoline was up two 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.

November NYMEX Natural Gas Futures Contracts Closed at $2.891 on Tuesday, October 10th

October 11, 2017

Tuesday, October 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.876, four cents above Monday’s closing price of $2.833.  Emerging evenly into the market, prices traded along $2.875 through 10:00AM, marking the intraday low of $2.867 along the way.  With little change in weather forecasts for the coming weeks, the contract rose to the intraday high of $2.894 ahead of 11:00AM and proceeded to trade within a narrow band along this level for the balance of the day.  November closed higher on Tuesday at $2.891.

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

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.

November NYMEX Natural Gas Futures Contracts Closed at $2.863 on Friday, October 6th

October 09, 2017
Friday, October 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.899, two cents below Thursday’s closing price of $2.923.  Edging upward to mark the intraday high of $2.913 out of the gate, prices then traded along $2.900 through 10:00AM.  Losing ground soon thereafter to record a two-month intraday low of $2.856, the contract soon stabilized to seesaw along $2.865 for the balance of the day.  November closed lower on Friday at $2.863.

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

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.

November NYMEX Natural Gas Futures Contracts Closed at $2.923 on Thursday, October 5th

October 06, 2017

Thursday, October 5th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.952, a penny above Wednesday’s closing price of $2.940.  Rising steadily as trading opened for the day, the contract grew to reach $2.975 by 10:30AM.  Spiking to the intraday high of $2.995 as the weekly storage publication was released, prices soon retreated and slid downward into the afternoon.  Stabilized trading along the $2.94 level collapsed to the intraday low of $2.918 near 2:15PM, as November closed lower on Thursday at $2.923.

The EIA Natural Gas Storage Report published on Thursday showed a 42 BCF injection to storage for the week ended September 29th – nearly flat to the market estimate of 43 BCF.  Total working gas in storage was reported as 3,508 BCF; 4.4% below this time last year and 0.2% below the five-year average.

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.

 

November NYMEX Natural Gas Futures Contracts Closed at $2.940 on Wednesday, October 5th

October 05, 2017

Wednesday, October 4th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.959, six cents above Tuesday’s closing price of $2.895.  With continued forecasts for comfortable fall weather limiting expectations for demand, a brief climb to the intraday high of $2.977 near 9:00AM was soon knocked lower as selling took hold.  Crossing midday near $2.950 and falling to the intraday low of $2.928 an hour later, November proceeded to close higher on Wednesday at $2.940.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 43 BCF injection to storage for the week ended September 29th.  This compares to an 80 BCF injection at this time last year and a five-year average injection amount of 91 BCF.

This morning in Globex, WTI Crude was up 17 cents; Natural Gas was down slightly; Heating Oil was up one cent; and, Gasoline was up three cents.
 
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.

November NYMEX Natural Gas Futures Contracts Closed at $2.895 on Tuesday, October 3rd

October 04, 2017
Tuesday, October 3rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.900, nearly two cents below Monday’s closing price of $2.916.  Emerging into the market in a sharp descent, prices fell to the intraday low of $2.880 by 9:10AM.  Rebounding from there to reach the intraday high of $2.925 nearly an hour later, the contract stabilized near $2.905 by midday.  With little change to forecasts in the short-term, November traded sideways along this mark for the balance of the day, closing lower on Tuesday at $2.895.

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