July NYMEX Natural Gas Futures Contract Closed at $2.454 on Friday, May 31st

Friday, May 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.545, nearly even to Thursday’s closing price of $2.547.  Falling from the intraday high of $2.548 within minutes of the opening bell, the previous session’s bearish injection continued to influence traders as prices plunged lower into the morning.  Finding momentary support near $2.485 by 10:30AM, the contract then posted a more composed descent into the afternoon.  Recording a five-week intraday low of $2.444 ahead of 2:30PM, July closed lower on Friday at $2.454.

As of 9:05AM EST this morning in Globex, WTI Crude was up 84 cents; Natural Gas was unchanged; Heating Oil was down seven cents; and Gasoline was down eight 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.