February 18, 2021
Wednesday, February 17
th saw the front-month NYMEX Natural Gas Futures Contract open at $3.117, a penny below Tuesday’s closing price of $3.129. Falling to an intraday low of $3.072 at 9:40AM, prices hovered near $3.095 through 11:00AM. Mounting a steady ascent soon thereafter to cross midday near $3.149, the contract then surged to a fresh three-month intraday high of $3.316 at 12:50PM as frigid temperatures continue plague the central U.S. March closed higher on Wednesday at $3.219.
The EIA Natural Gas Storage Report is due out today at 10:30AM. The report is expected to show a 227 BCF withdrawal from storage for the week ended February 12
th. This compares to a 151 BCF withdrawal at this time last year and a five-year average withdrawal amount of 142 BCF.
As of 7:35AM EST this morning in Globex, WTI Crude was up 43 cents; Natural Gas was up three cents; Heating Oil was up two cents; and Gasoline was up 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.