July 3, 2023
Friday, June 30
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.668, slightly below Thursday’s closing price of $2.701. Slipping to the intraday low of $2.659 ahead of 9:30AM, the contract then mounted a steady ascent as key demand areas of the country are finally expecting summer-like cooling demand. Cross midday at $2.786 and tallying the intraday high of $2.828 at 1:05PM, August closed higher on Friday at $2.798.
The EIA Natural Gas Storage Report published on Thursday showed a 76 BCF injection to storage for the week ended June 23 – below the market estimate of 81 BCF. Total working gas in storage was reported as 2,805 BCF; 25.3% above this time last year and 14.6% above the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was up 67 cents; Natural Gas was up eight cents; Heating Oil was down slightly; and Gasoline was up slightly.
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.