May 6, 2022
Thursday, May 5
th saw the June NYMEX Natural Gas Futures Contract open at $8.430, nearly two cents above Wednesday’s closing price of $8.415. Trending lower trade near $8.300 by 9:30AM, the contract traded sideways leading up to the weekly storage publication. Slipping to an intraday low of $8.117 as the bearish report hit the wire, prices were quick to rebound as the contract crossed midday near $8.480. With seemingly endless bullish support, the contract rose to a fresh multi-year of $8.807 ahead of 2:30PM. June closed higher on Thursday at $8.783.
The EIA Natural Gas Storage Report published on Thursday showed a 77 BCF injection to storage for the week ended April 27 – above the market estimate of a 35 BCF injection. Total working gas in storage was reported as 1,567 BCF; 19.6% below this time last year and 16.3% below the five-year average.
As of 7:20AM EST this morning in Globex, WTI Crude was up $2.31; Natural Gas was up 14 cents; Heating Oil was down three cents; and Gasoline was up five 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.