Tuesday, August 16th saw the September NYMEX Natural Gas Futures Contract open at $9.266, fifty-four cents above Monday’s closing price $8.728. Trading within a forty-cent range throughout the day as weather forecasts remain unchanged, analysts pointed to a decline in production as the main catalyst. Marking the intraday low of $9.026 at 11:15AM, prices then rose to achieve a two-month intraday high of $9.388 ahead of 2:30PM. September closed higher on Tuesday at $9.329.
The Market Report will be on hiatus from Thursday, August 18 through Friday, August 19.
The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 29 BCF injection to storage for the week ended August 5. This compares to a 46 BCF injection at this time last year and a five-year average injection amount of 47 BCF.
As of 6:40AM EST this morning in Globex, WTI Crude was up 57 cents; Natural Gas was up five cents; Heating Oil was up two 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 natgas@spragueenergy.com or call 1-855-466-2842.