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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 $2.763 on Thursday, December 7th

December 08, 2017

Thursday, December 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.833, nine cents below Wednesday’s closing price of $2.922.  Trailing lower overnight as the market prepared for a bearish storage report, the contract fell to the $2.78 level ahead of the 10:30AM publication.  Dipping lower to $2.766 as trader’s expectations were realized, prices fluctuated along $2.780 for the majority of the afternoon before slipping to a six-week intraday low of $2.759 ahead of 2:30PM. January closed lower on Thursday at $2.763.

The EIA Natural Gas Storage Report published on Thursday showed a 2 BCF injection storage for the week ended December 1st – slightly above than the market estimate of 0 BCF.  Total working gas in storage was reported as 3,695 BCF; 6.7% below this time last year and 1.0% below the five-year average.

This morning in Globex, WTI Crude was up 97 cents; Natural Gas was up three cents; Heating Oil was up three cents; and, Gasoline was up two cents.  

New York and New England basis values were lower for all seasons.  Additionally, cash prices were higher in New York and lower 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.

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.