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Market Intel Archives

October NYMEX Natural Gas Futures Contracts Closed at $3.146 on Monday, September 18th

September 19, 2017

Monday, September 18th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.124, ten cents above Friday’s closing price of $3.024.  Slipping lower out of the gate to mark the intraday low of $3.106, prices then climbed as high as $3.143 by 9:30AM.  Trading within a penny over the subsequent two hours, the contract rose steadily into the afternoon as above-normal temperatures will cover much of the central and eastern U.S. this week.  Tallying a near four-month intraday high of $3.157 at 1:40PM, October proceeded to close higher on Monday at $3.146.

This morning in Globex, WTI Crude was up 46 cents; Natural Gas was down one; Heating Oil was up one cent and, Gasoline was unchanged.  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.

October NYMEX Natural Gas Futures Contracts Closed at $3.024 on Friday, September 15th

September 18, 2017

Friday, September 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.026, roughly four cents below Thursday’s closing price of $3.070.  Entering the market in a gradual rise to reach the intraday high of $3.044 by 10:00AM, prices then declined to reach the intraday low of $3.006 an hour later.  With above-normal temperatures expected to lift demand into late next week, the contract inched higher through the afternoon before closing down on Friday at $3.024.

This morning in Globex, WTI Crude was down 26 cents; Natural Gas was up seven cents; Heating Oil was down one cent and, Gasoline was unchanged.  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 $3.070 on Thursday, September 14th

September 15, 2017

Thursday, September 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.041, two cents below Wednesday’s closing price of $3.058.  Marking the intraday low of $3.036 at 9:30AM, prices seesawed along $3.045 until the weekly storage report release at 10:30AM.  Despite a larger-than-expected injection, the contract jumped to the $3.09 level and proceeded to tally the intraday high of $3.106 by 11:20AM.  Plotting a staggered descent into the afternoon, October closed higher on Thursday at $3.070.

The EIA Natural Gas Storage Report published on Thursday showed a 91 BCF injection to storage for the week ended September 8th – above the market estimate of 76 BCF.  Total working gas in storage was reported as 3,311 BCF; 5.1% below this time last year and 1.3% above the five-year average.

This morning in Globex, WTI Crude was up 12 cents; Natural Gas was down four 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.

October NYMEX Natural Gas Futures Contracts Closed at $3.058 on Wednesday, September 13th

September 14, 2017

Wednesday, September 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.059, six cents above Tuesday’s closing price of $3.001.  Picking up ground in pre-session trading as bullish weather is expected to extend into next week, prices fluctuated along the $3.06 mark through midday.  Gaining momentum to reach a near two-week high of $3.078 at 12:50PM, October managed to close higher on Wednesday at $3.058.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 76 BCF injection to storage for the week ended September 8th.  This compares to a 62 BCF injection at this time last year and a five-year average injection amount of 63 BCF.

This morning in Globex, WTI Crude was up 49 cents; Natural Gas was unchanged; Heating Oil was up one cent 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.

October NYMEX Natural Gas Futures Contracts Closed at $3.001 on Tuesday, September 12th

September 13, 2017

Tuesday, September 12th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.979, three cents above Monday’s closing price of $2.950.  Weighing the effects of Hurricane Irma’s impact on demand against a decline for cooling demand as the summer season wanes, prices rose confidently out of the gate to surpass the $3.04 mark.  Fluctuating to fall near $3.000 in the following hour, the contract recovered to tally the intraday high of $3.043 by 10:30AM.  Stepping lower to $3.020 by midday, October slipped further to finish the day, while still closing higher at $3.001.

This morning in Globex, WTI Crude was up 44 cents; Natural Gas was up five 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.

October NYMEX Natural Gas Futures Contracts Closed at $2.950 on Monday, September 11th

September 12, 2017

Monday, September 11th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.920, three cents above Friday’s closing price of $2.890.  Building from the intraday low of $2.919 as trading began, prices quickly arced upward to reach above $2.945 through 10:00AM.  Losing two cents in the following thirty minutes, the market then posted a more balanced ascent to span the day.  Marking the intraday high of $2.953 at 1:30PM, October soon stabilized to close higher on Monday at $2.950.

This morning in Globex, WTI Crude was up 10 cents; Natural Gas was up three cents; Heating Oil was down slightly; 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.

October NYMEX Natural Gas Futures Contracts Closed at $2.890 on Friday, September 8th

September 11, 2017

Friday, September 8th – saw the front-month NYMEX Natural Gas Futures Contracts open at $2.953, three cents below Thursday’s closing price of $2.981.  Moving upward initially to mark the intraday high of $2.959, the contract quickly fell to the $2.93 mark and leveled off through 10:00AM when prices diminished further.  Crossing $2.900 by midday as cooler temperatures are expected to cover much of the country, October sank to the intraday low of $2.885 by 2:20PM, closing lower on Friday at $2.890.

This morning in Globex, WTI Crude was up 22 cents; Natural Gas was up three cents; Heating Oil was down two cents; and, Gasoline was down three 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 $2.981 on Thursday, September 7th

September 08, 2017

Thursday, September 7th – saw the front-month NYMEX Natural Gas Futures Contracts open at $3.017, two cents above Wednesday’s closing price of $3.000.  Extending to the intraday high of $3.027 shortly after 9:00AM, prices slid to $2.990 by 9:30AM and held steady for the following hour.  Initially jumping higher to $3.015 as the storage report was released, the contract soon tumbled further to reach the intraday low of $2.968 at 11:00AM.  Narrowing its sights by noon to trade near $2.980, the afternoon witnessed little change as October closed lower on Thursday at $2.981.

The EIA Natural Gas Storage Report published on Thursday showed a 65 BCF injection to storage for the week ended September 1st – above the market estimate of 62 BCF.  Total working gas in storage was reported as 3,220 BCF; 6.2% below this time last year and 0.5% above the five-year average.

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

October NYMEX Natural Gas Futures Contracts Closed at $3.000 on Wednesday, September 6th

September 07, 2017

Wednesday, September 6th – saw the front-month NYMEX Natural Gas Futures Contracts open at $3.000, three cents above Tuesday’s closing price of $2.972.  Emboldened by the latest news regarding Hurricane Irma, prices shot upward early on to reach the intraday high of $3.031 by 9:20AM.  Tumbling to the intraday low of $2.980 forty minutes later, the contract stabilized near $3.005 by noon and traded sideways for the balance for the day, as October closed higher on Wednesday at $3.000.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 62 BCF injection to storage for the week ended September 1st.  This compares to a 36 BCF injection at this time last year and a five-year average injection amount of 58 BCF.

This morning in Globex, WTI Crude was down 42 cents; Natural Gas was up two cents; Heating Oil was up slightly; 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.

October NYMEX Natural Gas Futures Contracts Closed at $2.972 on Tuesday, September 5th

September 06, 2017

Tuesday, September 5th – saw the front-month NYMEX Natural Gas Futures Contracts open at $2.978, well below Friday’s closing price of $3.070.  Posting significant losses since Friday’s close, bearish weather forecasts for much of the East and the unofficial end of summer have traders reevaluating market fundamentals.  Touching the intraday low of $2.965 as markets opened and reaching up to the intraday high of $2.978 by 10:30AM, October narrowed its focus to seesaw along $2.975 for the balance of the day, closing lower on Tuesday at $2.972.

This morning in Globex, WTI Crude was up 51 cents; Natural Gas was unchanged; Heating Oil was up one cent; and, Gasoline was down three cents.

New York and New England basis values were higher for the coming winter season and lower for the following summer season.  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.