August NYMEX Natural Gas Futures Contracts Closed at $2.788 on Tuesday, July 10th

Tuesday, July 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.818, a penny below Friday’s closing price of $2.828.  A brief step up to the intraday high of $2.826 at 9:15AM was the only positive momentum Tuesday had to offer as traders turned bearish on weather and short-term demand.  While production and consumption have remained steady, another heatwave or below average injection may be the catalyst needed to turn things around.  Hovering just above the $2.80 mark near midday, August slipped to a two-month intraday low of $2.784 before closing lower on Tuesday at $2.788.

This morning in Globex, WTI Crude was down 78 cents; Natural Gas was up two cents; Heating Oil was down three cents; and, Gasoline was down two 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 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.