August NYMEX Natural Gas Futures Contract Closed at $2.344 on Tuesday, July 9th

Tuesday, July 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.429, six cents above Monday’s closing price of $2.366. Extending to an intraday high of $2.448 by 9:15AM, prices soon pulled back as updated forecasts provided a slightly bearish shift. Providing additional bearish pressure, feed gas volumes at the Freeport LNG terminal remained subdued following Hurricane Beryl. Falling throughout the day to record the intraday low of $2.340 ahead of 2:30PM, August closed lower on Tuesday at $2.344.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 55 BCF injection to storage for the week ended July 5th. This compares to a 49 BCF injection this time last year and a five-year average injection amount of 57 BCF.

As of 7:30AM EST this morning in Globex, WTI Crude was down 24 cents; Natural Gas was up four cents; Heating Oil was down two cents; and Gasoline was down two cents.

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.