May 15, 2020
Thursday, May 14
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.631, nearly two cents above Wednesday’s closing price of $1.616. Slipping to an intraday low of $1.617 within minutes of 9:00AM, the contract soon rallied to reach $1.660 at 10:20AM, and continued higher to $1.695 as the weekly storage report was published. Extending to an intraday high of $1.715 at 11:30AM, the June contract was largely able to stabilize and trade sideways into closing, finishing higher on the day at $1.681.
The EIA Natural Gas Storage Report published on Thursday showed a 103 BCF injection to storage for the week ended May 8
th – in line with the market estimate of 103. Total working gas in storage was reported as 2,422 BCF: 49.2% above this time last year and 20.6% above the five-year average.
As of 7:00AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was up three cents; Heating Oil was up two cents; and Gasoline was up 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.