August 22, 2018
Tuesday, August 21
st saw the front-month NYMEX Natural Gas Futures Contracts open at $2.971, three cents above Monday’s closing price of $2.941. Responding to updated forecasts for increased demand to close out the month of August, the possibility of entering the heating season with storage levels sitting 20% below the five-year average has proven enough to direct markets near $3.000. Losing momentum to record the intraday low of $2.953 at 10:00AM, bulls soon returned to drive prices to the intraday high of $2.985 by 12:40PM. September closed higher on Tuesday at $2.980.
This morning in Globex, WTI Crude was up $1.17; Natural Gas was down one cent; Heating Oil was up three cents; and, Gasoline was up four cents.
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.