July 22, 2020
Tuesday, July 21
st saw the front-month NYMEX Natural Gas Futures Contract open at $1.662, two cents above Monday’s closing price of $1.641. Ascending as high as $1.900 and finding a bottom near $1.500, natural gas has seen its fair share of rallies over the past few months. Short covering rallies or other market catalysts have propelled the contract upward while tepid demand, healthy storage levels, and anemic LNG exports continue to drive prices back to the $1.50 level. We’re likely to follow this trend into the winter months, barring unforeseen conditions. Tallying an intraday high of $1.681 by 9:30AM Tuesday morning, prices seem to have stabilized for the time being. Marking an intraday low of $1.651 ahead of 1:00PM, the August contract closed higher on Tuesday at $1.675.
As of 7:00AM EST this morning in Globex, WTI Crude was down 69 cents; Natural Gas was down four cents; Heating Oil was down two cents; and Gasoline was down one cent.
Natural Gas Glossary
Natural Gas Supplier
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.
This market update is provided for information purposes only and is not intended as advice on any transaction nor is it a solicitation to buy or sell commodities. Sprague makes no representations or warranties with respect to the contents of such news, including, without limitation, its accuracy and completeness, and Sprague shall not be responsible for the consequence of reliance upon any opinions, statements, projections and analyses presented herein or for any omission or error in fact. The views expressed in this material are through the period as of the date of this report and are subject to change based on market and other conditions. This document contains certain statements that may be deemed forward-looking statements. Please note that any such statements are not guarantees of any future performance or results and actual results or developments may differ materially from those projected. The whole or any part of this work may not be reproduced, copied, or transmitted or any of its contents disclosed to third parties without Sprague’s express written consent.