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Market Intel Archives

October NYMEX Natural Gas Futures Contracts Closed at $3.070 on Friday, September 1st

September 05, 2017

Friday, September 1st – saw the front-month NYMEX Natural Gas Futures Contracts open at $3.005, below Thursday’s closing price of $ $3.040.  Dropping to the intraday low of $2.998 as markets opened, prices traded along $3.010 until bounding higher at 9:30AM.  Stabilizing near $3.080 ninety minutes later, the contract rose to the intraday high of $3.088 shortly after noon.  Persisting along this level to finish out the day, October closed higher on Friday at $3.070.

In observance of Labor Day, the NYMEX was closed on Monday, September 4th.

This morning in Globex, WTI Crude was up 71 cents; Natural Gas was down eight cents; Heating Oil was down two cents; and, Gasoline was down six 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.

October NYMEX Natural Gas Futures Contracts Closed at $3.040 on Thursday, August 31st

September 01, 2017

Thursday, August 31st – saw the front-month NYMEX Natural Gas Futures Contracts open at $2.929, a penny below Wednesday’s closing price of $2.939.  Finding the intraday low of $2.914 within minutes of 9:00AM, prices rose modestly to $2.940 ahead of 10:30AM.  Holding this mark initially as the weekly storage injection met market expectations, the contract then mounted a confident ascent to reach $3.038 by midday.  Reassessing market fundamentals, October rose to a six-week intraday high $3.045 by 2:00PM, jumping 3% on Thursday to close at $3.040.

The EIA Natural Gas Storage Report published on Thursday showed a 30 BCF injection to storage for the week ended August 25th – even with the market estimate.  Total working gas in storage was reported as 3,155 BCF; 7.0% below this time last year and 0.3% above the five-year average.

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

October NYMEX Natural Gas Futures Contracts Closed at $2.939 on Wednesday, August 30th

August 31, 2017

On Wednesday, August 30th – the October NYMEX Natural Gas Futures Contracts began trading as the prompt month.  Opening at the intraday high of $2.962, two cents below Tuesday’s closing price of $2.983, prices tumbled lower to find the intraday low of $2.928 by 10:10AM.  Recovering soon thereafter, the contract proceeded to seesaw along the $2.94 mark for the balance of the day, as October closed lower on Wednesday at $2.939.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 30 BCF injection to storage for the week ended August 25th.  This compares to a 51 BCF injection at this time last year and a five-year average injection amount of 67 BCF.

This morning in Globex, WTI Crude was up 41 cents; Natural Gas was down two cents; Heating Oil was up two cents; and, Gasoline was up 13 cents.  Additionally, cash prices were mixed 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.

September NYMEX Natural Gas Futures Contracts Settled at $2.961 on Tuesday, August 29th

August 30, 2017

On Tuesday, August 29th – settlement day for the September Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.946, two cents above Monday’s closing price of $2.925.  Emerging into the day’s session in a modest decline, prices marked the intraday low of $2.909 on multiple occasions through 11:30AM.  Tracking steadily higher into the afternoon as the market weighed the impact on production from Tropical Storm Harvey against low cooling demand in much of the country, the contract then launched from the $2.94 level at 2:00PM to reach for the $3.00 mark.  Attaining the intraday high of $2.998 at 2:20PM, September settled higher on Tuesday at $2.961.  The October contract closed two cents higher at $2.983.

This morning in Globex, WTI Crude was down 41 cents; Natural Gas was down three cents; Heating Oil was up four cents; and, Gasoline was up 11 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.925 on Monday, August 28th

August 29, 2017

Monday, August 28th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.867, roughly two cents below Friday’s closing price of $2.892.  Falling initially to the intraday low of $2.849, prices then surged higher to reach the intraday day high of $2.967 as Hurricane Harvey continues to pose a threat to natural gas production.  Experiencing choppy trading in the following sixty minutes, the contract narrowed its range near $2.935 through midday.  Losing two cents by 1:00PM, September then crept slowly upwards to close higher on Monday at $2.925.

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

September NYMEX Natural Gas Futures Contracts Closed at $2.892 on Friday, August 25th

August 28, 2017

Friday, August 25th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.930, two cents below Thursday’s closing price of $2.949.  Following a brief uptick to the intraday high of $2.941, the contract then tumbled lower until finding the intraday low of $2.881 at 10:00AM.  With forecasts for this week failing to inspire expectations for increased demand, the contract settled in along the $2.89 level to finish-out the day, as September closed lower on Friday at $2.892.

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

September NYMEX Natural Gas Futures Contracts Closed at $2.949 on Thursday, August 24th

August 25, 2017

Thursday, August 24th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.954, nearly three cents above Wednesday’s closing price of $2.928.  Losing two cents initially as markets opened, prices then rose steadily to $2.970 by 10:30AM.  Jumping to the intraday high of $2.982 as the weekly storage report was released, the contract soon turned lower as focus shifted to tropical system Harvey in the Gulf of Mexico.  Marking the intraday low of $2.932 at 12:30PM, September rose modestly over the subsequent two hours to close higher on Thursday at $2.949.

The EIA Natural Gas Storage Report published on Thursday showed a 43 BCF injection to storage for the week ended August 18th – even with the market estimate.  Total working gas in storage was reported as 3,125 BCF; 6.7% below this time last year and 1.5% above the five-year average.

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

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

September NYMEX Natural Gas Futures Contracts Closed at $2.928 on Wednesday, August 23rd

August 24, 2017

Wednesday, August 23rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.915, two cents below Tuesday’s closing price of $2.939.  Emerging into the market in a downward trend, prices fell to the intraday low of $2.900 by 10:00AM, as temperatures will become more seasonal for much of the country.  Gradually building to reach the intraday high of $2.937 at 11:20AM, the contract then traded within a narrow band along $2.930 to finish the day.  September closed lower on Wednesday at $2.928.

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 August 18th.  This compares to an 11 BCF injection at this time last year and a five-year average injection amount of 53 BCF.

This morning in Globex, WTI Crude was down 16 cents; Natural Gas was up two cents; Heating Oil 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.939 on Tuesday, August 22nd

August 23, 2017

Tuesday, August 22nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.993, three cents above Monday’s closing price of $2.962.  Rising to the intraday high of $2.999 as markets opened, prices tumbled lower into the morning to find the intraday low of $2.927 by 11:20AM.  Sloping upward by midday to settle in along $2.945, the contract persisted along this mark for the balance of the day as September closed lower on Tuesday at $2.939.

This morning in Globex, WTI Crude was down 16 cents; Natural Gas was down two cents; Heating Oil 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.962 on Monday, August 21st

August 22, 2017

Monday, August 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.880, a penny below Friday’s closing price of $2.893.  Rallying from the intraday low of $2.867 as market’s opened, news of above-average temperatures in the short-term quickly propelled prices higher.  Scaling upward through the low $2.90’s, the contract posted a near 4% jump to mark the intraday high of $2.980 by 11:00AM.  Fluctuating along $2.965 for the balance of the day, September closed higher on Monday at $2.962.

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

New York basis values were higher for all seasons, whereas 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.