March NYMEX Natural Gas Futures Contract Closed at $2.054 on Monday, January 29th

Monday, January 29th saw the front-month NYMEX Natural Gas Futures Contract open at $2.484, twenty-three cents below Friday’s closing price of $2.712. In a light day of trading for the front-month, February settled lower at $2.490.

The more actively traded March contract opened at $2.110, six cents below Friday’s closing price of $2.175. Peaking at an intraday high of $2.120 multiple times before 10:00AM, forecasts for mild demand persisting into mid-month and healthy production directed prices lower. Marking the intraday low of $2.047 ahead of 2:30PM, March closed lower on Monday at $2.054.

The EIA Natural Gas Storage Report published last Thursday showed a 326 BCF withdrawal from storage for the week ended January 19 – on par with the market estimate 331 BCF. Total working gas in storage was reported as 2,856 BCF; 4.0% above this time last year and 5.2% above the five-year average.

As of 7:35AM EST this morning in Globex, WTI Crude was down 47 cents; Natural Gas was up two cents; Heating Oil was down five cents; and Gasoline was down four cents.
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to 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.