July NYMEX Natural Gas Futures Contracts Closed at $2.964 on Wednesday, June 20th

Wednesday, June 20th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.936, nearly four cents above Tuesday’s closing price of $2.900.  Turning upward with a renewed possibility of above-average temperatures late next week, prices rose steadily as markets opened to reach the $2.96 mark by 10:00AM.  Seesawing along this level for the balance of the day, following a brief jump to the intraday high of $2.969, July closed higher on Wednesday at $2.964.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show an 84 BCF injection to storage for the week ended June 15th.  This compares to a 61 BCF injection at this time last year and a five-year average injection amount of 83 BCF.

This morning in Globex, WTI Crude was down 70 cents; Natural Gas was up three cents; Heating Oil was down two cents; and, Gasoline was down one cent.  

Natural Gas Glossary
                                                                                                 
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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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