April 19, 2019
Thursday, April 18
th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.503, slightly below Wednesday’s closing price of $2.517. Trailing downward early on to test three-year lows once again, tallying an intraday low of $2.485 at 10:10AM, prices then jumped higher as the storage publication hit the wire twenty minutes later. Despite an injection that landed on the higher side of expectations, the contract rose to an intraday high of $2.521 at 10:50AM. Descending below the $2.50 level by midday, May closed lower on Thursday at $2.490.
The EIA Natural Gas Storage Report published on Thursday showed a 92 BCF injection to storage for the week ended April 12
th – nearly even to the market estimate of 94 BCF. Total working gas in storage was reported as 1,247 BCF; 4.4% below this time last year and 24.9% below the five-year average.
The NYMEX Trading floor will be closed today in observance of the Good Friday holiday.
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.