July NYMEX Natural Gas Futures Contract Closed at $1.638 on Wednesday, June 17th

Wednesday, June 17th saw the front-month NYMEX Natural Gas Futures Contract open at $1.619, just above Tuesday’s closing price of $1.614.  Seeking direction early on, prices rose to an intraday high of $1.647 by 10:20AM as above-average temperatures are expected for the back end of June.  Falling to an intraday low of $1.610 at 1:00PM, the contract ascended into 2:30PM as July closed higher on Wednesday at $1.638.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show an 85 BCF injection to storage for the week ended June 12th. This compares to a 115 BCF injection at this time last year and a five-year average injection amount of 87 BCF.

As of 6:50AM EST this morning in Globex, WTI Crude was up 40 cents; Natural Gas was up slightly; Heating Oil was up one cent; and Gasoline was up one cent.

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.