June 3, 2021
Wednesday, June 2
nd saw the front-month NYMEX Natural Gas Futures Contract open at $3.103, nearly even to Tuesday’s closing price of $3.104. Marking an intraday high of $3.116 at 9:30AM, the contract hovered near $3.110 until 10:00AM. Losing ground ahead of midday to trade near $3.065, prices rose modestly into the afternoon due to a bullish weather system that will cover much of the country in the coming week. July closed lower on Wednesday at $3.075.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 107 BCF injection to storage for the week ended May 28
th. This compares to a 102 BCF injection at this time last year and a five-year average injection amount of 96 BCF.
As of 6:10AM EST this morning in Globex, WTI Crude was down 16 cents; Natural Gas was down one cent; Heating Oil was down slightly; and Gasoline was down slightly.
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.