March 29, 2019
On Thursday, March 28
th – the May NYMEX Natural Gas Futures Contract began trading as the prompt month. Opening at $2.736, nearly two cents above Wednesday’s closing price of $2.719, prices rose to an intraday high of $2.741 before falling to the $2.720 level and stabilizing through 10:30AM. Sinking to an intraday low of $2.707 as the slightly bearish report was published, the contract was able to rebound in the following thirty minutes to reach as high as $2.737. Drifting gradually lower for the balance of the day, May closed lower on Thursday at $2.712.
The EIA Natural Gas Storage Report published on Thursday showed a 36 BCF withdrawal from storage for the week ended March 22
nd – below the market estimate of 41 BCF. Total working gas in storage was reported as 1,107 BCF; 20.5% below this time last year and 33.2% below the five-year average.
As of 8:45AM EST this morning in Globex, WTI Crude was up $1.15; Natural Gas was down one cent; Heating Oil was up two cents; and Gasoline was up three 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.