September 6, 2019
Thursday, September 5
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.431, a penny below Wednesday’s closing price of $2.445. Following a jump above $2.450 as markets opened, the contract then stabilized along $2.425 where it stayed until the weekly storage publication at 10:30AM. Falling to an intraday low of $2.388 as the bearish report hit the wire, those fueling the recent rally were quick to step in and drive prices to an intraday high of $2.462 at midday. Trading along either side of $2.430 for the majority of the afternoon, October closed lower on Thursday at $2.435.
The EIA Natural Gas Storage Report published on Thursday showed an 84 BCF injection to storage week ended August 30
th – above the market estimate of 76 BCF. Total working gas in storage was reported at 2,941 BCF; 15.0% above this time last year and 2.7% below the five-year average.
As of 8:40AM EST this morning in Globex, WTI Crude was down 92 cents; Natural Gas was down two cents; Heating Oil was down three cents; and Gasoline was down 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.