July NYMEX Natural Gas Futures Contracts Closed at $2.996 on Wednesday, June 27th

On Wednesday, June 27th – settlement day for the July Contract — the front-month NYMEX Natural Gas Futures Contracts opened at $2.999, six cents above Tuesday’s closing price of $2.939.  In a relatively quiet trading day, prices fluctuated within a near five-cent range.  Moving between a low of $2.961 at midday and an intraday high of $3.007 ahead of 2:30PM, the July contract settled higher on Wednesday at $2.996.  Posting similar gains backed by bullish weather forecasts, the more heavily traded August contract closed five cents higher at $2.981.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 68 BCF injection to storage for the week ended June 22nd.  This compares to a 46 BCF injection at this time last year and a five-year average injection amount of 72 BCF.

This morning in Globex, WTI Crude was down 21 cents; Natural Gas was up two cents; Heating Oil was down one cent; and, Gasoline was down one cent.  
Natural Gas Glossary
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.