July NYMEX Natural Gas Futures Contract Closed at $3.492 on Thursday, June 12th

Thursday, June 12th saw the front-month NYMEX Natural Gas contract open at $3.598, $0.091 above Wednesday’s closing price of $3.507. Achieving an intraday high of $3.626 at 9:10AM as short-term forecasts added demand and LNG production picks up after maintenance, prices then traded lower to $3.590 ahead of 10:30AM. Withdrawing further as the weekly storage print hit the wire, the contract fell to an intraday low of $3.468 at 1:55PM. July closed lower on Thursday at $3.492.

The EIA Natural Gas Storage Report published on Thursday posted a 109 BCF injection to storage for the week ended June 6 – in line with the market estimate of a 108 BCF injection. Total working gas in storage was reported as 2,707 BCF; 8.6% below this time last year and 5.4% above the five-year average.

As of 6:50AM this morning in Globex, WTI Crude was up $5.580; Natural Gas was up $0.041; Heating Oil was up $0.157; and Gasoline was up $0.920.

              
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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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