February 14, 2019
Wednesday, February 13
th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.594, roughly nine cents below Tuesday’s closing price of $2.688. Seesawing along either side of $2.590 through the balance of the morning, prices eventually scaled upwards to tally an intraday high $2.628 at 12:50PM. As selling dominated the rest of the session, as March tallied an intraday low of $2.571 before closing lower on Wednesday at $2.575.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show an 83 BCF withdrawal from storage for the week ended February 8
th. This compares to a 194 BCF withdrawal at this time last year and a five-year average withdrawal amount of 160 BCF.
This morning in Globex, WTI Crude was up 22 cents; Natural Gas was up two cents; Heating Oil was up two cents; and Gasoline was up two cents. Additionally, cash prices were lower in New York and higher in New England.
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.