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Market Intel Archives

July NYMEX Natural Gas Futures Contracts Closed at $2.907 on Tuesday, June 20th

June 21, 2017

Tuesday, June 20th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.905, one cent above Monday’s closing price of $2.894.  Losing ground early on to mark the intraday low $2.879, the contract then rose cautiously higher for the balance of the day, peaking at the intraday high of $2.913 at 1:40PM.  One day after prices suffered a 5% drop, weather forecasts have left traders uninspired as July closed nearly flat on Tuesday at $2.907.

This morning in Globex, WTI Crude was up 22 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up 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 $2.894 on Monday, June 19th

June 21, 2017

Monday, June 19th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.886, fifteen cents below Friday’s closing price of $3.037.  Facing a 5% drop since Friday afternoon, bearish weather in the coming weeks has diminished hope for increased demand.  Climbing apprehensively to the $2.91 mark by 9:30AM, prices retreated slightly to seesaw along $2.900 through midday.  A modest ascent to the intraday high of $2.919 by 1:00PM then saw July move downward, closing lower on Monday at $2.894.

This morning in Globex, WTI Crude was down $1.10; Natural Gas was up one cent; Heating Oil was down two cents; and, Gasoline was down 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.

July NYMEX Natural Gas Futures Contracts Closed at $3.037 on Friday, June 16th

June 19, 2017

Friday, June 16th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.053, just below Thursday’s closing price of $3.056.  Stepping higher out of the gate to reach the intraday high of $3.064, prices then swung downward to find the intraday low of $3.027 by 9:30AM.  Climbing gradually higher to just shy of the $3.06 mark an hour later, the contract then posted a steady decline to fall below $3.040 to finish out the day.  Weighing mixed market fundamentals, July closed lower on Friday at $3.037.

This morning in Globex, WTI Crude was up 13 cents; Natural Gas was down 14 cents; and, Heating Oil and Gasoline were 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 $3.056 on Thursday, June 15th

June 16, 2017

Thursday, June 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.945, a penny above Wednesday’s closing price of $2.933.  Trading within a penny of $2.945 through the day’s opening ninety minutes, news of a bullish storage injection then drove prices drastically higher.  With limited demand expected in the coming weeks, the lower-than-expected injection provided traders enough support to drive the contract over the $3.00 mark.  Climbing as high at $3.062 ahead of midday, a modest mid-afternoon decline eventually subsided as prices rose to the intraday high of $3.066 at 2:00PM.  July closed higher on Thursday at $3.056.

The EIA Natural Gas Storage Report published on Thursday showed a 78 BCF injection to storage for the week ended June 9th – below the market estimate of 87 BCF. Total working gas in storage was reported as 2,709 BCF; 10.6% below this time last year and 9.2% above the five-year average.

This morning in Globex, WTI Crude was up 37 cents; Natural Gas was unchanged; Heating Oil was up two cents; 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.

July NYMEX Natural Gas Futures Contracts Closed at $2.933 on Wednesday, June 14th

June 15, 2017

Wednesday, June 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.961, slightly below Tuesday’s closing price of $2.966.  Unsettled trading as markets opened witnessed a decline to $2.923 by 9:20AM, the lowest intraday mark seen since mid-March.  Mounting a confident ascent to reach the intraday high of $2.989 nearly an hour later, the contract soon withdrew as bearish forecasts continue to limit expectations for demand.  July closed lower on Wednesday at $2.933.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show an 87 BCF injection to storage for the week ended June 9th.  This compares to a 69 BCF injection at this time last year and a five-year average injection amount of 87 BCF.

This morning in Globex, WTI Crude was down 23 cents; Natural Gas was up one cent; Heating Oil was down slightly; and, Gasoline was down 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 $2.966 on Tuesday, June 13th

June 14, 2017

Tuesday, June 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.038, roughly a penny above Monday’s closing price of $3.024.  Descending from the intraday high of $3.048 within minutes of 9:00AM, prices soon plummeted lower.  As traders turned their focus to cooler than normal temperatures in the coming weeks, the contract declined to cross $2.970 by 10:00AM and recorded the intraday low of $2.949 an hour later.  Modest buying drove prices to the $2.99 level through midday before ultimately dwindling lower, as July closed lower on Tuesday at $2.966.

This morning in Globex, WTI Crude was down 29 cents; Natural Gas was down two cents; Heating Oil was unchanged; 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.

July NYMEX Natural Gas Futures Contracts Closed at $3.024 on Monday June, 12th

June 13, 2017

Monday, June 12th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.082, four cents above Friday’s closing price of $3.039.  In a familiar sight from last week, pre-market trading drove prices higher to tally the intraday high of $3.087 within minutes of opening.  In spite of above-average temperatures covering the eastern half of the U.S. this week, prices gradually declined through the morning, crossing midday near $3.035.  Unable to find support, July diminished further into the afternoon to close lower on Monday at $3.024.

This morning in Globex, WTI Crude was down 19 cents; Natural Gas was up three cents; Heating Oil was down slightly; and, Gasoline was down one cent.  Additionally, cash prices were higher in New York and New England 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 $3.039 on Friday, June 9th

June 12, 2017

Friday, June 9th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.043, nearly two cents above Thursday’s closing price of $3.028.  Reaching to tally the intraday high of $3.057 as markets opened, despite a brief drop to the intraday low of $3.028, prices soon stabilized near $3.040.  Trading within a penny of this mark for the majority of the day as traders sought to find a balance between short-term cooling demand and the well-supplied market, July closed higher on Friday at $3.039.

This morning in Globex, WTI Crude was up 68 cents; Natural Gas was up five cents; Heating Oil was up two cents; 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.

July NYMEX Natural Gas Futures Contracts Closed at $3.028 on Thursday, June 8th

June 09, 2017

Thursday, June 8th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.016, just below Wednesday’s closing price of $3.020.  Ascending to $3.030 by 9:30AM, prices then retreated to the $3.01 mark and traded sideways until the 10:30AM storage publication.  As the bearish report hit the wire, the contract sank to the intraday low of $2.978.  Mounting a swift recovery in the following minutes, the contract rose to $3.043 by 11:00AM and continued upward to the intraday high of $3.068 shortly after noon.  Spurred on by expectations of increased cooling demand in the comings weeks, July proceeded to close higher on Thursday at $3.028.

The EIA Natural Gas Storage Report published on Thursday showed a 106 BCF injection to storage for the week ended June 2nd – above the market estimate of 100 BCF. Total working gas in storage was reported as 2,631 BCF; 11.2% below this time last year and 9.9% above the five-year average.

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

July NYMEX Natural Gas Futures Contracts Closed at $3.020 on Wednesday, June 7th

June 08, 2017

Wednesday, June 7th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.079, nearly four cents above Tuesday’s closing price of $3.042.  Picking up ground in pre-session trading once again, an initial jump to the intraday high of $3.085 in the day’s opening minutes soon gave way to selling.  Trading along either side of $3.045 from mid-morning through 12:00PM, the afternoon saw the contract give up some of Tuesday’s gains as traders weighed current weather forecasts and demand.  Finding the intraday low of $3.017 at 2:20PM, July closed lower on Wednesday at $3.020.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 100 BCF injection to storage for the week ended June 2nd.  This compares to a 65 BCF injection at this time last year and a five-year average injection amount of 94 BCF.

This morning in Globex, WTI Crude was down 27 cents; Natural Gas was down one cent; Heating Oil was up slightly; and, Gasoline was up 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.