February NYMEX Natural Gas Futures Contracts Closed at $2.944 on Monday, January 7th

Monday, January 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.958, nearly nine cents below Friday’s closing price of $3.044.  Experiencing volatility early on, prices fell to the intraday low of $2.923 at 9:10AM only to jump four cents in the following twenty minutes.  Ascending to the intraday high of $2.994 by 11:10AM, bullish traders failed to hold this momentum as the contract arced lower towards midday.  Finding support near $2.940, February traded within the bounds of Friday’s high and low yesterday, which could signal uncertainty, as sustained seasonal temperatures are now probable for the back end of the month.  February closed lower on Monday at $2.944.

This morning in Globex, WTI Crude was up 82 cents; Natural Gas was up five cents; Heating Oil was up three cents; and Gasoline was up 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.

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.