April 9, 2020
Wednesday, April 8
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.842, a penny below Tuesday’s closing price of $1.852. Continuing the three-day rally early on, prices rose to an intraday high of $1.886 at 9:40AM. Trending lower from there, traders then pulled back as the contract began a staggered descent into the afternoon. Crossing midday near $1.840, May fell to an intraday low of $1.776 at 2:20PM as traders squared their positions ahead of today’s storage report. May closed lower on Wednesday at $1.783.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 28 BCF injection to storage for the week ended April 3
rd. This compares to a 25 BCF injection at this time last year and a five-year average injection amount of 6 BCF.
As of 7:45AM EST this morning in Globex, WTI Crude was up 80 cents; Natural Gas was down one cent; Heating Oil was down 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.