March NYMEX Natural Gas Futures Contracts Closed at $2.573 on Thursday, February 14th

Thursday, February 14th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.599, roughly two cents above Wednesday’s closing price of $2.575.  Straddling the $2.590 level through 10:30AM, a bearish storage injection directed prices as low as $2.575 before jumping to the intraday high of $2.613 twenty minutes later.  Descending gradually from this high, the contract traded sideways along $2.575 late into the afternoon as March closed lower on Thursday at $2.573.

The EIA Natural Gas Storage Report published on Thursday showed a 78 BCF withdrawal from storage for the week ended February 8th – below the market estimate of 83 BCF.  Total working gas in storage was reported as 1,882 BCF; 1.6% below this time last year and 15.0% below the five-year average.

This morning in Globex, WTI Crude was up 88 cents; Natural Gas was up three cents; Heating Oil was up three cents; and Gasoline was up three 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 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.