April 14, 2023
Thursday, April 13
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.081, a penny below Wednesday’s closing price of $2.093. Recording the intraday high of $2.093 as echoes of the opening bell could still be heard, the contract lost ground through the opening hour to skate along the $2.00 level. Getting a much-needed bump to trade near $2.050 following the weekly storage publication, prices withdrew for the balance of the day despite below-average temperatures entering the region next week. Marking the intraday low of $1.995 at 1:50PM, May closed lower on Thursday at $2.007.
The EIA Natural Gas Storage Report published on Thursday showed a 25 BCF injection to storage for the week ended April 7 – below with the market estimate of 31 BCF. Total working gas in storage was reported as 1,855 BCF; 33.0% above this time last year and 18.9% above the five-year average.
As of 6:55AM EST this morning in Globex, WTI Crude was up 31 cents; Natural Gas was up two cents; Heating Oil was down slightly; and Gasoline was up one cent.
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.