July NYMEX Natural Gas Futures Contract Closed at $2.791 on Monday, June 26th

Monday, June 26th saw the front-month NYMEX Natural Gas Futures Contract open at $2.759, three cents above Friday’s closing price of $2.729. Continuing last week’s cooling-demand induced rally, prices moved to the intraday high of $2.816 by 9:35AM. Pulling back trade near $2.750 heading into midday; marking the intraday low of $2.733 at 11:45AM, the contract posted a cautious ascent into the afternoon. July closed higher on Monday at $2.791.

Set to assume the front-month position this Thursday, the more actively traded August contract posted similar activity throughout the day to close higher at $2.892.

The EIA Natural Gas Storage Report published on Thursday showed a 95 BCF injection to storage for the week ended June 16 – above the market estimate of 86 BCF. Total working gas in storage was reported as 2,729 BCF; 26.5% above this time last year and 15.3% above the five-year average.

As of 6:40AM EST this morning in Globex, WTI Crude was down 75 cents; Natural Gas was down four cents; Heating Oil was up two cents; and Gasoline was down one cent.
                                     
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.
 

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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.