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Market Intel Archives

June NYMEX Natural Gas Futures Contracts Closed at $3.330 on Monday, May 22nd

May 23, 2017

Monday, May 22nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.297, four cents above Friday’s closing price of $3.256.  After picking up seven cents on Friday, prices continued steadily higher in pre-session trading.  Settling in above $3.320 by 10:30AM as cooler temperatures have spurred on demand, the contract then dropped below $3.310 as midday came to pass. Managing a balanced climb to mark the intraday high of $3.333 at 2:20PM, June closed higher on Monday at $3.330.

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

June NYMEX Natural Gas Futures Contracts Closed at $3.256 on Friday, May 19th

May 22, 2017

Friday, May 19th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.224, four cents above Thursday’s closing price of $3.182.  Recording the intraday low of $3.217 as trader’s sought direction through 9:30AM, prices then stepped higher to trade along $3.260 thirty minutes later.  Fluctuating mildly along this mark for the majority of the day, marking the intraday high of $3.270 at 12:40PM, June closed higher on Friday at $3.256, as above-normal temperatures will subside for much of the country in the coming week.

This morning in Globex, WTI Crude was up 55 cents; Natural Gas was up six 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.182 on Thursday, May 18th

May 19, 2017

Thursday, May 18th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.229, nearly four cents above Wednesday’s closing price of 3.192.  Tallying the intraday high of $3.230 as markets opened, prices tumbled gradually lower to reach the $3.19 level ahead of the 10:30AM storage publication.  Sinking to the intraday low of $3.161 as the report hit the wire, the contract then surged higher, in spite of a larger than anticipated storage injection.  Facing resistance near $3.225 minutes later, staggered bouts of selling saw June trade within a penny of $3.190 for the majority of the day, closing lower on Thursday at $3.182.

The EIA Natural Gas Storage Report published on Thursday showed a 68 BCF injection to storage for the week ended May 12th – above the market estimate of 64 BCF. Total working gas in storage was reported as 2,369 BCF; 13.7% below this time last year and 12.1% above the five-year average.

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

 

June NYMEX Natural Gas Futures Contracts Closed at $3.192 on Wednesday, May 17th

May 18, 2017

Wednesday, May 17th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.239, a penny above Tuesday’s closing price of 3.230.  Marking the intraday high of $3.247 out of the gate, bearish weather forecasts continued to knock the contract lower through the morning.  Recording a one-week intraday low of $3.165 by noon, modest buying into the late afternoon saw June close lower on Wednesday at $3.192.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 64 BCF injection to storage for the week ended May 12th.  This compares to a 73 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 17 cents; Natural Gas was up one cent; Heating Oil was down slightly; and, Gasoline was down 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.230 on Tuesday, May 16th

May 17, 2017

Tuesday, May 16th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.278, seven cents below Monday’s closing price of $3.349.  Feeling the effects of expected bearish weather in the coming week, prices peaked at the intraday high of $3.289 within minutes of opening and soon turned downward.  Trading sideways along $3.260 by 10:00AM, the contract held this mark until midday selling led to additional losses.  Struggling to keep its head above $3.230 in the subsequent hour, a brief dip to the intraday low of $3.216 at 1:40PM then saw June stabilize slightly higher to close down on Tuesday at $3.230.

This morning in Globex, WTI Crude was up 26 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up one cent.  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.

June NYMEX Natural Gas Futures Contracts Closed at $3.349 on Monday, May 15th

May 16, 2017

Monday, May 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.348, nearly eight cents below Fridays closing price of $3.424.  Sinking to the intraday low of $3.334 within minutes of 9:00AM, prices tracked gradually higher into the morning to reach the intraday high of $3.372 ahead of 11:00AM.  Trading sideways through midday, the contract dropped to the $3.35 mark by 1:00PM.  As traders have been tracking weather forecasts closely as of late, an expected midweek warm-up has put an end to the prompt month’s winning streak as June closed lower on Monday at $3.349.

This morning in Globex, WTI Crude was up 31 cents; Natural Gas was down four cents; Heating Oil was up two cents; 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.424 on Friday, May 12th

May 15, 2017

Friday, May 12th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.380, just above Thursday’s closing price of $3.376.  Building on the week’s momentum, slightly above-average demand in the Northeast directed prices upward.  Surpassing $3.400 by 10:30AM, the contract continued its progress through midday, adding two cents along the way.  Climbing to the intraday high of $3.431 at 2:20PM, June closed higher on Friday at $3.424.

This morning in Globex, WTI Crude was up $1.68; Natural Gas was down five cents; Heating Oil was up four cents; and, Gasoline was up four 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.376 on Thursday, May 11th

May 12, 2017

Thursday, May 11th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.316, two cents above Wednesday’s closing price of $3.292.  Recording the intraday low of $3.316 as markets opened, prices then traded within a penny of $3.325 through 10:00AM.  Adding a penny as the 10:30AM storage publication approached, the contract surged to a fresh three-month high of $3.388 upon news of a bullish injection.  Sustaining bouts of selling to match the intraday high shortly past midday, June posted a composed decline before closing higher on Thursday at $3.376.

The EIA Natural Gas Storage Report published on Thursday showed a 45 BCF injection to storage for the week ended May 5th – below the market estimate of 53 BCF. Total working gas in storage was reported as 2,301 BCF; 13.9% below this time last year and 13.6% above the five-year average.

This morning in Globex, WTI Crude was up 18 cents; Natural Gas was up slightly; Heating Oil was up one cent; and, Gasoline was up two 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.292 on Wednesday, May 10th

May 11, 2017

Wednesday, May 10th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.269, four cents above Tuesday’s closing price of $3.227.  Descending to the intraday low of $3.252 by 9:15AM, prices hovered near $3.265 through 10:30AM.  Surging upward to a new one-month high of $3.349 ten minutes later, below-normal temperatures in the Northeast have supported expectations for increased demand.  Retreating in the following hour to stabilize near $3.305 ahead of midday, the contract persevered until 2:00PM, as a modest retreat saw June close higher on Wednesday at $3.292.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 53 BCF injection to storage for the week ended May 5th.  This compares to a 56 BCF injection at this time last year and a five-year average injection amount of 73 BCF.

This morning in Globex, WTI Crude was up 62 cents; Natural Gas was up four cents; Heating Oil was 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.

June NYMEX Natural Gas Futures Contracts Closed at $3.227 on Tuesday, May 9th

May 11, 2017

Tuesday, May 9th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.197, nearly three cents above Monday’s closing price of $3.172.  Gaining two cents within minutes of opening, a brief stumble to opening levels soon subsided as prices surpassed $3.230 shortly after 10:00AM.  As warming temperatures midweek will eventually give way to another cold spell in the Northeast, the West Coast can expect below-normal temperatures as well, as reported by natgasweather.com.  Trading sideways along $3.225 until noon, prices extended to reach the intraday high of $3.246 an hour later.  Trailing lower to finish the day, June closed higher on Tuesday at $3.227.

This morning in Globex, WTI Crude was up 60 cents; Natural Gas was up three cents; Heating Oil was up one cent; 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.