August 3, 2018
Thursday, August 2
nd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.758, even to Wednesday’s closing price. Seesawing along $2.765 through the day’s opening ninety minutes, the contract then surged higher as the less than estimated inventory report was released. Ascending to the $2.82 level by 11:00AM, prices fluctuated within a penny of this mark as the afternoon drew on. Tagging the intraday high of $2.828 ahead of closing, September finished higher on Thursday at $2.816.
The EIA Natural Gas Storage Report published on Thursday showed a 35 BCF injection to storage for the week ended July 27
th – below the market estimate of 42 BCF. Total working gas in storage was reported as 2,308 BCF; 23.0% below this time last year and 19.7% below the five-year average.
This morning in Globex, WTI Crude was down 11 cents; Natural Gas was up three cents; Heating Oil was down slightly; and, Gasoline was up 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.