October NYMEX Natural Gas Futures Contract Closed at $2.254 on Thursday, September 5th

Thursday, September 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.192, five cents above Wednesday’s closing price of $2.145. Recording the intraday low of $2.188 within minutes of the opening bell, the contract was trading along $2.215 leading up to the weekly storage publication. Jumping to the $2.275 level as the bullish report hit the wire, waning production figures also bolstered support. Recording the intraday high of $2.286 at 1:45PM, October closed higher on Thursday at $2.254.

The EIA Natural Gas Storage Report published last Thursday showed a 13 BCF injection to storage for the week ended August 30 – below the market estimate of a 28 BCF injection. Total working gas in storage was reported as 3,347 BCF; 6.6% above this time last year and 10.7% above the five-year average.

As of 6:50AM EST this morning in Globex, WTI Crude was up eight cents; Natural Gas was up three cents; Heating Oil was flat; and Gasoline was up one cent.

                                                                                                 
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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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