January 31, 2020
On Thursday, January 30th – the March NYMEX Natural Gas Futures Contract began trading as the prompt month. Opening at $1.831, three cents below Wednesday’s closing price of $1.865, prices rose to an intra-day high of $1.866 by 9:40AM. Stabilizing near $1.855 in the hour leading up to the weekly storage release, the contract fell to the $1.83 mark as the publication reported a withdrawal that fell in line with market ex-pectations. Lacking supportive weather forecasts, the March contract slipped to another multi-year low of $1.815 at 11:50AM, ultimately finishing lower on the day at $1.829.
The EIA Natural Gas Storage Report published on Thursday showed a 201 BCF withdrawal from storage for the week ended January 24th – just below the market estimate of 205 BCF. Total working gas in storage was reported as 2,746 BCF: 23.6% above this time last year and 7.6% above the five-year average.
As of 8:45AM EST this morning in Globex, WTI Crude was up 19 cents; Natural Gas was up two cents; Heating Oil was up one cent; 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.