April NYMEX Natural Gas Futures Contract Closed at $1.936 on Tuesday, March 10th

Tuesday, March 10th saw the front-month NYMEX Natural Gas Futures Contract open at $1.849, seven cents above Monday’s closing price of $1.778.  Climbing from an intraday low of $1.834 at 9:10AM, prices rose confidently to reach as high as $1.932 by 10:30AM.  The recent rally can likely be attributed to cuts in U.S. oil production, which in turn can lead to a reduction in natural gas output.  Trading within three cents of $1.905 into the early afternoon, the contract rose to a near three week intraday high of $1.938 at 2:20PM, closing higher on Tuesday at $1.936.

As of 8:50AM EST this morning in Globex, WTI Crude was down $1.26; Natural Gas was down one cent; Heating Oil was down two cents; and Gasoline was down four 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.