February NYMEX Natural Gas Futures Contract Closed at $2.162 on Tuesday, January 7th

Tuesday, January 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.139, just above Monday’s closing price of $2.135.  Shedding two cents early on, the contract maintained a steady climb throughout the day to cross midday near $2.157 and reach an intraday high of $2.178 at 1:10PM.  Possibly fueled by a short-covering rally, weather continues to be unsupportive as Bespoke Weather Services stated that January is “on pace to rank in the top five warmest Januarys going back to at least 1981.”  February closed higher on Tuesday at $2.162.

As of 8:40AM EST this morning in Globex, WTI Crude was down $1.03; Natural Gas was up one cent; Heating Oil was down one cent; and Gasoline down two 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.
 

Share:
RSS
Follow by Email
Facebook
X (Twitter)

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.