May NYMEX Natural Gas Futures Contract Closed at $2.699 on Tuesday, April 9th

Tuesday, April 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.701, slightly below Monday’s closing price of $2.708.  Falling to the intraday low of $2.680 within minutes of the opening bell, the contract rose to the $2.70 level by 10:30AM where it stabilized into the afternoon.  With increased production expected for 2019 offsetting worries about the current one- and five-year storage deficits, slightly below-average temperatures have underpinned prices for the short term.  May closed slightly lower on Tuesday at $2.699.

As of 8:45AM EST this morning in Globex, WTI Crude was up 33 cents; Natural Gas was up two cents; Heating Oil was up one cent; 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 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.