May NYMEX Natural Gas Futures Contract Closed at $2.580 on Friday, April 26th

On Friday, April 26th – settlement day for the May contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.520, slightly above Thursday’s closing price of $2.514.  Building upon the previous session’s momentum, prices surged upward to the $2.550 level by 9:30AM.  Supported by oversold conditions and slightly cooler than expected temperatures in the short-term, the contract posted a choppy ascent into the afternoon to tally a ten-day intraday high of $2.580 at 2:00PM.  The May contract settled higher on Friday at $2.566, while the more heavily traded June contract posted similar gains to close roughly three cents higher at $2.580.

As of 8:50AM EST this morning in Globex, WTI Crude was down 23 cents; Natural Gas was down two cents; Heating Oil was up slightly; and Gasoline was down two 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.