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Market Intel Archives

January NYMEX Natural Gas Futures Contracts Closed at $2.684 on Thursday, December 14th

December 15, 2017

Thursday, December 14th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.681, three cents below Wednesday’s closing price of $2.715.  With sights set to recover any ground lost overnight, the contract rose to the $2.70 mark by 9:30AM, even as bullish expectations for this week’s storage report pale in comparison to last year’s withdrawal of 147 BCF.  Launching from $2.680 an hour later as the storage publication was released, a momentary climb to the intraday high of $2.710 quickly collapsed.  Finding the intraday low of $2.643 thirty minutes later, January managed to step gradually upward into the afternoon before closing ultimately lower on Thursday at $2.684.

The EIA Natural Gas Storage Report published on Thursday showed a 69 BCF withdrawal from storage for the week ended December 8th – above the market estimate of 67 BCF.  Total working gas in storage was reported as 3,626 BCF; 5.3% below this time last year and 0.7% below the five-year average.

This morning in Globex, WTI Crude was up 24 cents; Natural Gas was up three cents; Heating Oil was up one cent; and, Gasoline was up one cent.  

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.715 on Wednesday, December 13th

December 14, 2017

Wednesday, December 13th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.707, three cents above Tuesday’s closing price of $2.678.  Trading lower initially to $2.656, the lowest intraday mark since last February, the contract then mounted a staggered ascent to reach $2.720 by midday.  Building upward as bargain buying was bolstered by updated forecasts showing below-average temperatures dipping further into the Midwest in the coming week, prices tallied the intraday high of $2.751 at 12:40PM.  Scaling back to close out the day, January closed higher on Wednesday at $2.715.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 67 BCF withdrawal from storage for the week ended December 8th.  This compares to a 147 BCF withdrawal at this time last year and a five-year average withdrawal amount of 78 BCF.

This morning in Globex, WTI Crude was down 24 cents; Natural Gas was down five cents; Heating Oil was down one cent; and, Gasoline was up one cent.  

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.678 on Tuesday, December 12th

December 13, 2017

Tuesday, December 12th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.828, even to Monday’s closing price.  Rising modestly to the intraday high of $2.834 at 9:30AM, prices then plummeted lower to stabilize near $2.740 by 10:00AM and lost an additional three cents in the subsequent hour.  While the Northeast and northern parts of the country will experience short-term bullish weather, tepid conditions in the rest of the country and continued healthy production have limited any upside for the time being.  Crossing midday day at the $2.71 mark, the contract slipped further to reach a 9-month intraday low of $2.682 shortly after 2:00PM, as January closed lower on Tuesday at $2.678.

This morning in Globex, WTI Crude was up 58 cents; Natural Gas was up four cents; Heating Oil was up one cent; and, Gasoline was up one cent.  

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.828 on Monday, December 11th

December 12, 2017

Monday, December 11th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.827, nearly six cents above Thursday’s closing price of $2.772.  Losing momentum after pre-market gains, prices slipped to the intraday low of $2.806 ahead of 10:00AM.  Regaining its footing, recently diminished prices and a short-term cold blast that will cover much of the east directed the contract upward.  Peaking at the intraday high of $2.841 by midday, January stabilized along $2.830 into the afternoon before closing higher on Monday at $2.828.

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

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.772 on Friday, December 8th

December 11, 2017

Friday, December 8th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.790, three cents above Thursday’s closing price of $2.763.  Continuing the week’s trend as healthy storage levels and production have outweighed below-average temperatures through mid-December, prices trended downward until reaching the intraday low of $2.757 by 10:30AM.  Recovering to seesaw along $2.775 from midday onward, January closed higher on Friday at $2.772.

This morning in Globex, WTI Crude was up 16 cents; Natural Gas was up three cents; Heating Oil up one cent; and, Gasoline was up one cent.  

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.922 on Wednesday, December 6th

December 07, 2017

Wednesday, December 6th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.961, five cents above Tuesday’s closing price of $2.914.  With weather-related demand keeping prices afloat overnight, the contract turned downward as markets opened.  Falling to the $2.91 level by 10:00AM, a gradual decline to the intraday low of $2.884 shortly after noon was soon recovered.  With today’s storage report expectations paling in comparison to both the five-year average and last year’s withdrawal, January closed nearly flat on Wednesday at $2.922.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show no change in storage for the week ended December 1st.  This compares to a 42 BCF withdrawal at this time last year and a five-year average withdrawal amount of 69 BCF.

This morning in Globex, WTI Crude was up 28 cents; Natural Gas was down nine cents; Heating Oil up one cent; and, Gasoline was up two cents.  

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.914 on Tuesday, December 5th

December 06, 2017

Tuesday, December 5th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.920, nearly seven cents below Monday’s closing price of $2.985.  Lower once again in overnight trading as seasonal weather forecasts combat healthy supply levels, prices fell as low as $2.887 at 9:30AM before climbing to the intraday high of $2.932 forty minutes later.  Sliding from here to the intraday low of $2.875 at noon, January managed a choppy ascent to finish the day, closing lower on Tuesday at $2.914.

This morning in Globex, WTI Crude was down 81 cents; Natural Gas was up four cents; Heating Oil was down two cents; and, Gasoline was down two cents.  

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.

January NYMEX Natural Gas Futures Contracts Closed at $2.985 on Monday, December 4th

December 05, 2017

Monday, December 4th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.093, three cents above Friday’s closing price of $3.061.  Extending to the intraday high of $3.103 as markets opened, prices then plummeted lower as production remains strong and last week’s consumption disappointed compared to the prior week.  Stabilizing near $3.015 at 10:00AM, the contract shed an additional three cents an hour later and persisted along the $2.985 through midday.  Slipping to the intraday low of $2.959 ahead of 2:00PM, January proceeded to close lower on Monday at $2.985.

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

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.

January NYMEX Natural Gas Futures Contracts Closed at $3.061 on Friday, December 1st

December 04, 2017

Friday, November 1st saw the front-month NYMEX Natural Gas Futures Contracts open at $3.096, seven cents above Thursday’s closing price of $3.025.  Making gains in overnight trading as market fundamentals were reassessed, prices trended lower in the day’s opening hour to slip as low as $3.061.  Fluctuating within a wide range while ascending to the intraday high of $3.108 at 11:50AM, momentum was soon subdued as the contract tumbled to the intraday low of $3.054 forty minutes later.  Narrowing its focus as the afternoon drew on, January closed higher on Friday at $3.061.

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

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.

January NYMEX Natural Gas Futures Contracts Closed at $3.025 on Thursday, November 30th

December 01, 2017

Thursday, November 30th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.102, eight cents below Tuesday’s closing price of $3.179.  Tallying the intraday high of $3.111 within minutes of markets opening, prices trended lower near $3.070 ahead of the weekly storage release.  Experiencing choppy trading shortly after the bearish storage report was published, the contract then rose hesitantly to recapture the $3.09 mark by noon.  Unfazed by next week’s expected bullish weather, January trailed as low as $3.013 by 2:00PM, closing lower on Thursday at $3.025.

The EIA Natural Gas Storage Report published on Thursday showed a 33 BCF withdrawal from storage for the week ended November 24th – slightly smaller than the market estimate of 36 BCF.  Total working gas in storage was reported as 3,693 BCF; 7.7% below this time last year and 2.8% below the five-year average.

This morning in Globex, WTI Crude was up 44 cents; Natural Gas was up six cents; Heating Oil was up two cents; and, Gasoline was up one cent.  

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.