Tuesday, May 14th saw the front-month NYMEX Natural Gas Futures Contract open at $2.657, nearly four cents above Monday’s closing price of $2.621. Fluctuating along $2.650 through the morning hours, prices reached an intraday high of $2.664 at 9:40AM and an intraday low of $2.637 at 11:10AM. Despite the expected series of +100 BCF injections in the coming weeks, unseasonably cool temperatures have provided support for the current rally. Settling in near $2.655 by 12:30PM, June closed higher on Tuesday at $2.659.
As of 8:45 EST this morning in Globex, WTI Crude was down 73 cents; Natural Gas was unchanged cents; Heating Oil was down one cent; and Gasoline was down one cent.
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.