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
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