March NYMEX Natural Gas Futures Contracts Closed at $2.734 on Friday, February 1st

Friday, February 1st saw the front-month NYMEX Natural Gas Futures Contracts open at $2.787, nearly three cents below Thursday’s closing price of $2.814.  Testing lows not seen since last summer, prices remained steady through 11:00AM when modest buying helped to record an intraday high of $2.807.  Short-term mild temperatures and Thursday’s bearish storage report have ruined any plans for a jump towards the $3.00 level, but come mid-month we may see another opportunity.  Falling through the afternoon to reach the intraday low of $2.730, March closed lower on Friday at $2.734.

This morning in Globex, WTI Crude was down 72 cents; Natural Gas was down six cents; Heating Oil was down one cent; and Gasoline was up 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.
 

Share:
RSS
Follow by Email
Facebook
X (Twitter)

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.