August NYMEX Natural Gas Futures Contract Closed at $1.709 on Monday, June 29th

Monday, June 29th saw the front-month NYMEX Natural Gas Futures Contract open at $1.638, seven cents above Friday’s closing price of $1.544.  Marking an intraday low of $1.637 minutes after 9:00AM, pre-session momentum persisted well into the morning as prices surged more than 7% to tag an intraday high of $1.753 at 11:30AM.  Analysts are attributing this rally to the announcement of the gas drilling giant Chesapeake Energy filing for chapter 11 bankruptcy on Sunday, fueling anticipation of a drop in production.  Choppy trading throughout the afternoon saw August close higher on Monday at $1.709.

As of 8:20AM EST this morning in Globex, WTI Crude was down 64 cents; Natural Gas was up four cents; Heating Oil was down one cent; and Gasoline was unchanged.

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 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.