June 28, 2023
Tuesday, June 27
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.796, just above Monday’s closing price of $2.791. Trading within a tight band near $2.780 through 11:00AM as cooling demand persists and settlement looms closer. Trending modestly higher into the afternoon to trade sideways near $2.800, the contract rose to tally a near four-month intraday high of $2.809 at 1:45PM. Pulling back to close out the day, July finished lower on Tuesday at $2.763.
The more actively traded August contract posted similar activity throughout the day, ultimately closing lower at $2.789.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 81 BCF injection to storage for the week ended June 23. This compares to an 82 BCF injection at this time last year and a five-year average injection amount of 80 BCF.
As of 7:30AM EST this morning in Globex, WTI Crude was up one cent; Natural Gas was up two cents; Heating Oil was unchanged; and Gasoline was up three 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.