Thursday, April 30
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.860, a penny below Wednesday’s closing price of 1.869. Following a slight dip to an intraday low of $1.859 right out of the gate, the contract then traded along $1.875 until the weekly storage publication at 10:30AM. Shooting higher as the report hit the wire, prices rose as high as $1.922 at 10:50AM, before settling in near $1.890 and trading sideways into the afternoon. Trending higher near 2:00PM, June rose to an intraday high of $1.953 ahead of close, finishing higher on Thursday at $1.949.
The EIA Natural Gas Storage Report published on Thursday showed a 70 BCF injection to storage for the week ended April 24
th – largely in line with the market estimate. Total working gas in storage was reported as 2,210 BCF: 54.9% above this time last year and 19.5% above the five-year average.
As of 7:50AM EST this morning in Globex, WTI Crude was up 77 cents; Natural Gas was up four cents; Heating Oil was unchanged; and Gasoline was down two cents.
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.