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Market Intel Archives

October NYMEX Natural Gas Futures Contracts Closed at $2.946 on Thursday, September 21st

September 22, 2017

Thursday, September 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.061, three cents below Wednesday’s closing price of $3.094.  Entering the market with a bout of selling, prices quickly tumbled to $3.025 where traders then awaited the 10:30AM storage report.  Descending rapidly below $3.00 as the larger-than-expected storage injection was published, the contract withdrew to $2.965 by midday.  Despite forecasts for above-normal temperatures lasting into next week, October fell to the intraday low of $2.942 before closing down on Thursday at $2.946.

The EIA Natural Gas Storage Report published on Thursday showed a 97 BCF injection to storage for the week ended September 15th – above the market estimate of 90 BCF.  Total working gas in storage was reported as 3,408 BCF; 3.8% below this time last year and 2.0% above the five-year average.

This morning in Globex, WTI Crude was down 15 cents; Natural Gas was up slightly; Heating Oil was down slightly; 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.

October NYMEX Natural Gas Futures Contracts Closed at $3.094 on Wednesday, September 20th

September 21, 2017

Wednesday, September 20th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.113, a penny below Tuesday’s closing price of $3.122.  Posting steady gains to start the day, prices rose to the intraday high of $3.142 by 9:50AM.  Unable to maintain this momentum, the contract fell to $3.125 at 11:00AM and stepped lower through midday.  Fluctuating along $3.105 until 2:00PM, October then sank to the intraday low of $3.091 before closing lower on Wednesday at $3.094.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 90 BCF injection to storage for the week ended September 15th.  This compares to a 52 BCF injection at this time last year and a five-year average injection amount of 73 BCF.

This morning in Globex, WTI Crude was down 28 cents; Natural Gas was down four cents; Heating Oil was unchanged; and, Gasoline was down two cents.  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 $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 $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 $3.040 on Thursday, August 31st

September 01, 2017

Thursday, August 31st – saw the front-month NYMEX Natural Gas Futures Contracts open at $2.929, a penny below Wednesday’s closing price of $2.939.  Finding the intraday low of $2.914 within minutes of 9:00AM, prices rose modestly to $2.940 ahead of 10:30AM.  Holding this mark initially as the weekly storage injection met market expectations, the contract then mounted a confident ascent to reach $3.038 by midday.  Reassessing market fundamentals, October rose to a six-week intraday high $3.045 by 2:00PM, jumping 3% on Thursday to close at $3.040.

The EIA Natural Gas Storage Report published on Thursday showed a 30 BCF injection to storage for the week ended August 25th – even with the market estimate.  Total working gas in storage was reported as 3,155 BCF; 7.0% below this time last year and 0.3% above the five-year average.

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

October NYMEX Natural Gas Futures Contracts Closed at $2.939 on Wednesday, August 30th

August 31, 2017

On Wednesday, August 30th – the October NYMEX Natural Gas Futures Contracts began trading as the prompt month.  Opening at the intraday high of $2.962, two cents below Tuesday’s closing price of $2.983, prices tumbled lower to find the intraday low of $2.928 by 10:10AM.  Recovering soon thereafter, the contract proceeded to seesaw along the $2.94 mark for the balance of the day, as October closed lower on Wednesday at $2.939.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 30 BCF injection to storage for the week ended August 25th.  This compares to a 51 BCF injection at this time last year and a five-year average injection amount of 67 BCF.

This morning in Globex, WTI Crude was up 41 cents; Natural Gas was down two cents; Heating Oil was up two cents; and, Gasoline was up 13 cents.  Additionally, cash prices were mixed 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.949 on Thursday, August 24th

August 25, 2017

Thursday, August 24th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.954, nearly three cents above Wednesday’s closing price of $2.928.  Losing two cents initially as markets opened, prices then rose steadily to $2.970 by 10:30AM.  Jumping to the intraday high of $2.982 as the weekly storage report was released, the contract soon turned lower as focus shifted to tropical system Harvey in the Gulf of Mexico.  Marking the intraday low of $2.932 at 12:30PM, September rose modestly over the subsequent two hours to close higher on Thursday at $2.949.

The EIA Natural Gas Storage Report published on Thursday showed a 43 BCF injection to storage for the week ended August 18th – even with the market estimate.  Total working gas in storage was reported as 3,125 BCF; 6.7% below this time last year and 1.5% above the five-year average.

This morning in Globex, WTI Crude was up 21 cents; Natural Gas was down three cents; Heating Oil up two cents; and, Gasoline was up seven cents.

New York and New England basis values were lower for the coming winter months and unchanged for the next summer 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.

September NYMEX Natural Gas Futures Contracts Closed at $2.928 on Wednesday, August 23rd

August 24, 2017

Wednesday, August 23rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.915, two cents below Tuesday’s closing price of $2.939.  Emerging into the market in a downward trend, prices fell to the intraday low of $2.900 by 10:00AM, as temperatures will become more seasonal for much of the country.  Gradually building to reach the intraday high of $2.937 at 11:20AM, the contract then traded within a narrow band along $2.930 to finish the day.  September closed lower on Wednesday at $2.928.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 43 BCF injection to storage for the week ended August 18th.  This compares to an 11 BCF injection at this time last year and a five-year average injection amount of 53 BCF.

This morning in Globex, WTI Crude was down 16 cents; Natural Gas was up two cents; Heating Oil 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.