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Market Intel Archives

September NYMEX Natural Gas Futures Contracts Closed at $2.774 on Friday, August 4th

August 07, 2017

Friday, August 4th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.767, three cents below Thursday’s closing price of $2.800.  Losing ground overnight, as forecasts show comfortable temperatures settling in to the Northeast this week, prices managed a bold start to the day by jumping to the intraday high of $2.800 by 9:10AM.  Exhausting its resources, the contract then slipped gradually lower into the morning before settling in near $2.780.  Trading within a narrow band for the balance of the day, September closed lower on Friday at $2.774.

This morning in Globex, WTI Crude was down 51 cents; Natural Gas was up slightly; Heating Oil was down two cents; and, Gasoline was down two cents.

New York basis values were higher for all seasons, whereas New England basis values were lower for all seasons.  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 $2.800 on Thursday, August 4th

August 07, 2017

Thursday, August 3rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.837, nearly three cents above Wednesday’s closing price of $2.811.  Trading evenly as markets opened, a slow ascent near 9:30AM led prices to the intraday high of $2.846 by 10:10AM.  Despite the weekly storage injection falling in line with market expectations, prices quickly retreated to the $2.81 level and reached the intraday low of $2.793 an hour later.  Seesawing along $2.805 through the afternoon, September closed lower on Thursday at $2.800.

The EIA Natural Gas Storage Report published on Thursday showed a 20 BCF injection to storage for the week ended July 28th – just above the market estimate of 19 BCF.  Total working gas in storage was reported as 3,010 BCF; 8.5% below this time last year and 3.0% above the five-year average.

This morning in Globex, WTI Crude was down 20 cents; Natural Gas was down four cents; Heating Oil was down 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.811 on Wednesday, August 2nd

August 04, 2017

Wednesday, August 2nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.818, nearly even with Tuesday’s closing price of $2.819.  Following a momentary slip to the intraday low of $2.804, prices rose through the day’s opening hour to mark the intraday high of $2.837 by 10:00AM.  With little change in forecasted weather and today’s storage injection looming, the contract spent the majority of the day trading within a penny of $2.820 as September closed lower on Wednesday at $2.811.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 19 BCF injection to storage for the week ended July 28th.  This compares to a 6 BCF withdrawal at this time last year and a five-year average injection amount of 44 BCF.

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

September NYMEX Natural Gas Futures Contracts Closed at $2.819 on Tuesday, August 1st

August 02, 2017

Tuesday, August 1st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.798, just above Monday’s closing price of $2.794.  Declining early on to find the intraday low of $2.761 by 9:40AM, the eastern portion of the country can expect low cooling demand into next week as forecasts continue to disappoint.  Sparking higher from here, prices rose to the $2.80 mark by 10:30AM and added two cents by midday.  Extending to the intraday high of $2.825 at 1:30PM, September proceeded to close higher on Tuesday at $2.819.

This morning in Globex, WTI Crude was unchanged; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was down one cent.  Additionally, cash prices were slightly higher 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 $2.794 on Monday July, 31st

August 01, 2017

Monday, July 31st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.848, roughly nine cents below Friday’s closing price of $2.941.  Attempting to stabilize near $2.850 as updated forecasts diminished expectations for cooling demand over the weekend, a momentary rise to the intraday high of $2.860 at 9:30AM soon gave way to continued selling.  Trading sideways near $2.825 through midday, prices fell to a near five-month low of $2.781 ahead of 2:00PM as September closed lower on Monday at $2.794.

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

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

September NYMEX Natural Gas Futures Contracts Closed at $2.941 on Friday, July 28th

July 31, 2017

On Friday, July 28th – the September NYMEX Natural Gas Futures Contracts began trading as the prompt month. Opening at $2.962, slightly below Thursday’s closing price of $2.967, prices stepped up to the intraday high of $2.983 by 9:30AM.  With lowered expectations for cooling demand in the coming week, traders were left with little reason to support Thursday’s storage-induced rally.  Trailing lower to cross midday near $2.945, the contract stabilized along this mark for the balance of the day as September closed lower at $2.941.

This morning in Globex, WTI Crude was down 23 cents; Natural Gas was down nine cents; Heating Oil was up slightly; and, Gasoline was up one cent.

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

August NYMEX Natural Gas Futures Contracts Closed at $2.969 on Thursday, July 27th

July 28, 2017

On Thursday, July 27th – settlement day for the August Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.919, slightly below Wednesday’s closing price of $2.924.  Trading evenly as markets opened, a modest rise near 10:00AM soon surged higher as prices reacted to news of a bullish storage injection.  Recording the intraday high of $2.998 at 10:30AM, choppy trading ensued into the early afternoon as the contract toed the $2.960 mark.  August settled at $2.969 to finish higher on Thursday, while the more actively traded September contract closed five cents higher at $2.967.

The EIA Natural Gas Storage Report published on Thursday showed a 17 BCF injection to storage for the week ended July 21st – below the market estimate of 22 BCF.  Total working gas in storage was reported as 2,990 BCF; 9.2% below this time last year and 3.9% above the five-year average.

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

August NYMEX Natural Gas Futures Contracts Closed at $2.924 on Wednesday, July 26th

July 27, 2017

Wednesday, July 26th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.914, three cents below Tuesday’s closing price of $2.944.  Following a swift rise to the intraday high of $2.935 by 9:30AM, prices drifted lower into the morning to mark the intraday low of $2.895 two hours later.  Modest buying through the afternoon ultimately saw August close lower at $2.924 as settlement draws closer.  Plotting a similar course, the September contract closed two cents lower on Wednesday at $2.914.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 22 BCF injection to storage for the week ended July 21st.  This compares to a 17 BCF injection at this time last year and a five-year average injection amount of 47 BCF.

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

August NYMEX Natural Gas Futures Contracts Closed at $2.944 on Tuesday, July 25th

July 26, 2017

Tuesday, July 25th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.936, nearly four cents above Monday’s closing price of $2.899.  Posting a healthy recovery overnight as traders sought bargain prices, the contract seesawed along $2.930 for the majority of the morning.  Stepping cautiously higher into the afternoon, prices extended to the intraday high of $2.948 ahead of 2:30PM before closing higher on Tuesday at $2.944.

This morning in Globex, WTI Crude was up 47 cents; Natural Gas was down three cents; Heating Oil was up one cent; and, Gasoline was down 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.

August NYMEX Natural Gas Futures Contracts Closed at $2.899 on Monday, July 24th

July 25, 2017

Monday, July 24th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.947, two cents below Friday’s closing price of $2.970.  Losing two cents as markets opened, a staggered ascent to the intraday high of $2.955 by 9:50AM was dampened by cooler forecasts covering much of the northeast.  Trailing downward to cross midday near the $2.90 level, prices stabilized until 1:00PM as the contract retreated further.  Recording to a two-week intraday low of $2.880 at 2:10PM, August closed lower on Monday at $2.899.

This morning in Globex, WTI Crude was up 78 cents; Natural Gas was up four cents; Heating Oil was up two cents; and, Gasoline was up 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.