July NYMEX Natural Gas Futures Contract Closed at $3.129 on Wednesday, June 9th

Wednesday, June 9th saw the front-month NYMEX Natural Gas Futures Contract open at $3.150, two cents above Tuesday’s closing price of $3.128.  Marking an intraday high of $3.168 at 9:30AM, prices trended lower until finding support near $3.135 by midday.  Awaiting today’s storage publication and any updates to the return of above average temperatures to close out the month, the contract marked an intraday low of $3.123 multiple times through the afternoon hours.  July closed nearly flat on Wednesday at $3.129.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 100 BCF injection to storage for the week ended June 4th.  This compares to a 93 BCF injection at this time last year and a five-year average injection amount of 92 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was up 12 cents; Natural Gas was up two cents; Heating Oil was up slightly; and Gasoline was up one cent.

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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.

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