October 9, 2020
Thursday, October 8
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.532, seven cents below Wednesday’s closing price of $2.606. Marking an intraday low of $2.512 soon after 9:00AM, prices bound higher to stabilize near $2.590 heading into the 10:30AM weekly storage publication. Shooting upward to $2.637 as the report hit the wire, a withdrawal to the $2.59 subsided in the session’s final hour as disturbances in the Gulf continue to threaten production. Tallying an intraday high of $2.651 at 1:40PM, November closed higher on Thursday at $2.627.
The EIA Natural Gas Storage Report published on Thursday showed a 75 BCF injection to storage for the week ended October 2
nd – in line with the market estimate of 76. Total working gas in storage was reported as 3,831 BCF: 13.1% above this time last year and 11.5% above the five-year average.
As of 7:15_AM EST this morning in Globex, WTI Crude was down 39 cents; Natural Gas was up seven cents; Heating Oil was down one cent; and Gasoline was down 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.