March NYMEX Natural Gas Futures Contract Closed at $1.955 on Wednesday, February 19th

Wednesday, February 19th saw the front-month NYMEX Natural Gas Futures Contract open at $1.963, 2 cents below Tuesday’s closing price of $1.981. Following the open, prices quickly hit an intraday high of $1.976 at 10:00AM. From there, prices buoyed into the afternoon, before a quick drop to an intraday low of $1.946 at 2:20PM. Tuesday’s price finished at $1.955, almost 3 cents below the previous day’s closing price.

The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 147 BCF withdrawal from storage for the week ended February 14th. This compares to a 163 BCF withdrawal at this time last year and a five-year average withdrawal amount of 137 BCF.

As of 9:00AM EST this morning in Globex, WTI Crude was up 71 cents; Natural Gas was down 1 cent; Heating Oil was up 1 cent; and Gasoline was up 2 cents.

New York and New England basis values were unchanged for all seasons. Additionally, cash prices were up in New York and New England.

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 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.