April 20, 2018
Thursday, April 19th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.716, two cents below Wednesday’s closing price of $2.739. Plunging below $2.690 soon after markets opened, prices fell as low as $2.676 by 10:00AM. Gaining a penny ahead of the weekly inventory report, the contract then shot upward to record an intraday high of $2.736 as the bullish publication hit the wire. Turning its focus to incoming seasonal weather, May trended downward into the afternoon, recording the intraday low of $2.658 minutes before closing lower on Thursday at $2.660.
The EIA Natural Gas Storage Report published on Thursday showed a 36 BCF withdrawal from storage for the week ended April 13th – above the market estimate of 26 BCF. Total working gas in storage was reported as 1,299 BCF; 38.3% below this time last year and 25.7% below the five-year average.
This morning in Globex, WTI Crude was down 44 cents; Natural Gas was up two cents; Heating Oil was down one cent; and, Gasoline was down one cent.
Natural Gas Glossary
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.