January 9, 2023
Friday, January 6
th saw the February NYMEX Natural Gas Futures Contract open at $3.664, six cents below Thursday’s closing price of $3.720. With forecasts remaining unquestionably bearish for the weeks ahead, the contract managed to fight off any additional losses through the morning. Peaking at an intraday high of $3.839 at 1:25PM, February closed slightly lower at $3.71 on Friday.
The EIA Natural Gas Storage Report published on Thursday showed a 221 BCF withdrawal from storage for the week ended December 30 – below the market estimate of 245 BCF. Total working gas in storage was reported as 2,891 BCF; 9.6% below this time last year and 6.7% below the five-year average.
As of 6:35AM EST this morning in Globex, WTI Crude was up $2.48; Natural Gas was up twenty cents; Heating Oil was up nine cents; and Gasoline was up eight cents.
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.