July 28, 2021
Tuesday, July 27
th saw the front-month NYMEX Natural Gas Futures Contract open at $4.036, seven cents below Monday’s closing price of $4.102. Marking an intraday high of $4.052 within minutes of the opening bell, the contract soon trended lower as reduced cooling demand has entered the forecast for the coming weeks. This pullback should be no surprise following the contracts meteoric rise in the past ten days. Marking an intraday low of $3.967 as 2:20PM, August closed lower on Tuesday at $3.971. The more actively traded September contract finished lower as well, closing fourteen cents lower on the day at $3.942.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 47 BCF injection to storage for the week ended July 23
rd. This compares to a 26 BCF injection at this time last year and a five-year average injection amount of 28 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was up 26 cents; Natural Gas was down seven cents; Heating Oil was up slightly; and Gasoline was unchanged.
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.