Wednesday, April 27
th – settlement day for the May contract – saw the front-month NYMEX Natural Gas Futures Contract open at $6.918, seven cents above Tuesday’s closing price of $6.850. Posting limited activity, May settled higher on Wednesday at $7.267.
The more actively traded June contract opened at $7.071, nine cents above Tuesday’s closing price of $6.978. Ascending from the intraday low of $7.068 just after the opening bell, the contract continued the previous session’s rally as Russia cut off gas supply to both Bulgaria and Poland. Reaching $7.415 by 11:00AM and an intraday high of $7.524 at 2:15PM, June closed higher on Wednesday at $7.339.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 35 BCF injection to storage for the week ended April 22. This compares to a 15 BCF injection at this time last year and a five-year average injection amount of 53 BCF.
As of 6:30AM EST this morning in Globex, WTI Crude was up 37 cents; Natural Gas was down 10 cents; Heating Oil was up three cents; and Gasoline was down one cent.
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.