July NYMEX Natural Gas Futures Contract Closed at $3.149 on Thursday, June 10th

Thursday, June 10th saw the front-month NYMEX Natural Gas Futures Contract open at $3.161, three cents above Wednesday’s closing price of $3.129.  Trading along either side of $3.175 through 10:00AM, prices rose to the $3.190 level ahead of the weekly storage publication.  Ascending to an intraday high of $3.200 as the report hit the wire, the contract trended lower into the afternoon.  Marking an intraday low of $3.153 ahead of closing, July finished higher on Thursday at $3.149.

The EIA Natural Gas Storage Report published on Thursday showed a 98 BCF injection to storage for the week ended June 4th – in line with the market estimate of 100 BCF.  Total working gas in storage was reported as 2,411 BCF; 13.7% below this time last year and 2.2% below the five-year average.

As of 8:15AM EST this morning in Globex, WTI Crude was up three cents; Natural Gas was up 12 cents; Heating Oil was down three cents; and Gasoline was down four 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.