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Market Intel Archives

May NYMEX Natural Gas Futures Contracts Settled at $3.142 on Wednesday, April 26th

April 27, 2017

On Wednesday, April 26th – settlement day for the May Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $3.062, two cents above Tuesday’s closing price of $3.043.  Barreling higher out of the gate to eclipse $3.110 by 9:20AM, prices stabilized near this mark through 11:00AM.  Stepping higher to seesaw along $3.125 late into the day, the contract clambered up to the intraday high of $3.170 at 2:20PM.  Supported by expectations for cooler than normal weather, May settled higher on Wednesday at $3.142.  Similarly, the June contract closed roughly ten cents higher at $3.271.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 72 BCF injection to storage for the week ended April 21st.  This compares to a 73 BCF injection at this time last year and a five-year average injection amount of 57 BCF.

This morning in Globex, WTI Crude was down 93 cents; Natural Gas was down four cents; Heating Oil was down three cents; and, Gasoline was down three 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.

May NYMEX Natural Gas Futures Contracts Closed at $3.043 on Tuesday, April 25th

April 26, 2017

Tuesday, April 25th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.069, slightly above Monday’s closing price of $3.066.  Marking the intraday high upon opening, prices were soon directed lower as minor expectations for demand continue.  Falling as low as $3.026 by 11:30AM, the contract pared its losses over the following hours to seesaw along the $3.04 mark.  Bottoming out at the intraday low of $3.022 minutes ahead of 2:30PM, May closed lower on Tuesday at $3.043.

This morning in Globex, WTI Crude was down 40 cents; Natural Gas was up three cents; Heating Oil was down one cent; 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.

May NYMEX Natural Gas Futures Contracts Closed at $3.066 on Monday, April 24th

April 25, 2017

Monday, April 24th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.079, roughly two cents below Friday’s closing price of $3.101.  Knocked down early in the day by expectations of mild weather, prices tumbled to a one-month intraday low of $3.031 by 10:40AM.  Mounting an uphill battle from here, the contract rose through the following ninety minutes to claim the intraday high of $3.092 shortly after midday.  Holding the $3.075 mark late into the day, May eventually withdrew to close lower on Monday at $3.066.

This morning in Globex, WTI Crude was down 13 cents; Natural Gas was up slightly; 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.

May NYMEX Natural Gas Futures Contracts Closed at $3.101 on Friday, April 21st

April 24, 2017

Friday, April 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.175, nearly two cents above Thursday’s closing price of $3.159.  Inching upward to mark the intraday high of $3.179 as markets opened, the contract posted a steady decline to cross $3.160 by 10:00AM and lost another penny in the following hour.  Plunging to fresh three-week low of $3.082 shortly past noon, prices soon buoyed up to trade near $3.105 for balance of the day.  Diminished by technical trading and expectations of healthy storage injections, May closed down for the second week in a row on Friday at $3.101.

This morning in Globex, WTI Crude was up 30 cents; Natural Gas was down one cent; 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.

May NYMEX Natural Gas Futures Contracts Closed at $3.159 on Thursday, April 20th

April 21, 2017

Thursday, April 20th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.188, just above Wednesday’s closing price of $3.185.  Uncertain trading through opening hour saw prices fluctuate along the $3.18 mark, recording the intraday high of $3.196 at 9:40AM.  Trending lower to $3.165 as the 10:30AM storage report drew near, a bearish storage injection gave the market pause before sinking to $3.138 ten minutes later.  Moving sideways along $3.155 to finish the morning, a slow descent to the intraday low of $3.134 by 1:10PM was recovered in the subsequent hour, as May closed lower on Thursday at $3.159.

The EIA Natural Gas Storage Report published on Thursday showed a 54 BCF injection to storage for the week ended April 14th – larger than the market estimate of 45 BCF. Total working gas in storage was reported as 2,115 BCF; 14.8% below this time last year and 15.4% above the five-year average.

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

May NYMEX Natural Gas Futures Contracts Closed at $3.185 on Wednesday, April 19th

April 20, 2017

Wednesday, April 19th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.195, five cents above Tuesday’s closing price of $3.145.  A shift in weather patterns saw prices hovering near the $3.20 mark early in the day before climbing to the intraday high of $3.223 shortly after 10:00AM.  Lacking any significant changes through midday and the afternoon, and following a brief dip to the intraday low of $3.183 ahead of 2:30PM, May closed higher on Wednesday at $3.185.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 45 BCF injection to storage for the week ended April 14th.  This compares to a 7 BCF injection at this time last year and a five-year average injection amount of 35 BCF.

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

May NYMEX Natural Gas Futures Contracts Closed at $3.145 on Tuesday, April 18th

April 19, 2017

Tuesday, April 18th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.130, three cents below Monday’s closing price of $3.163.  Slipping downward to the intraday low of $3.118 within minutes of opening, the contract then mounted a steady ascent to capture the intraday high of $3.182 by 10:00AM.  Edging gradually lower in the following two hours, prices settled in near the $3.14 mark by midday.  Weighing the current market standings on Tuesday, May closed lower at $3.145.

This morning in Globex, WTI Crude was unchanged; Natural Gas was up four 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.

May NYMEX Natural Gas Futures Contracts Closed at $3.163 on Monday, April 17th

April 18, 2017

Monday, April 17th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.180, nearly five cents below Thursday’s closing price of $3.227.  Trending initially lower, traders soon awoke from the long holiday weekend and directed prices higher.  Jumping higher to reach $3.235 by 10:00AM, the market was able to sustain this momentum until 11:20AM as a brief uptick to the intraday high of $3.237 ultimately gave way to persistent selling.  Dropping below $3.200 ahead of 12:30PM, May posted additional losses to close lower on Monday at $3.163.

This morning in Globex, WTI Crude was down 32 cents; Natural Gas was down three cents; Heating Oil was down one cent; and, Gasoline was down one cent.  

New York basis values were higher for the coming summer months and unchanged for next winter season, whereas New England basis values were higher for all seasons.  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.

May NYMEX Natural Gas Futures Contracts Closed at $3.227 on Thursday, April 13th

April 17, 2017

Thursday, April 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.174, a penny below Wednesday’s closing price of $3.187.  Entering the market in a steady ascent, the contract found support near $3.220 by 9:20AM.  Trading sideways through 10:30AM, prices jumped to the intraday high of $3.243 as the weekly storage report was released.  Returning to the $3.22 mark within minutes, the contract arced lower to dip below $3.180 at midday, but posted a stable recovery to finish the day.  May closed higher on Thursday at $3.227.

The EIA Natural Gas Storage Report published on Thursday showed a 10 BCF injection to storage for the week ended April 7th – above the market estimate of 8 BCF. Total working gas in storage was reported as 2,061 BCF; 16.8% below this time last year and 14.6% above the five-year average.

The NYMEX will be closed today, Friday, April 14th, in observance of Good Friday.

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.

May NYMEX Natural Gas Futures Contracts Closed at $3.187 on Wednesday, April 12th

April 13, 2017

Wednesday, April 12th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.139, one cent below Tuesday’s closing price of $3.150.  Showing promise as markets opened, prices extended to peak above $3.185 before stabilizing two cents lower by 10:00AM.  Ascending to the $3.19 mark forty minutes later, the contract then traded sideways near $3.185 through midday.  Tallying the intraday high of $3.197 at 1:40PM, May closed higher on Wednesday at $3.187.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show an 8 BCF injection to storage for the week ended April 7th.  This compares to a 3 BCF withdrawal at this time last year and a five-year average injection amount of 12 BCF.

This morning in Globex, WTI Crude was up 13 cents; Natural Gas was down two cents; Heating Oil was up slightly; 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.