May NYMEX Natural Gas Futures Contract Closed at $2.273 on Monday, April 24th

Monday, April 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.198, three cents below Friday’s closing price of $2.233. Tallying the intraday low of $2.193 by 9:30AM, prices mounted a staggered ascent that would bump up against the $2.280 level multiple times throughout the day. With May’s settlement looming closer, the contract marked an intraday high of $2.286 at 1:45PM, ultimately closing higher on Monday at $2.273.

Set to assume the front-month positions come Thursday, June opened two cents lower at $2.382. Posting a similar ascent as its predecessor, prices peaked at an intraday high of $2.484 at 1:45PM. June closed higher on Monday at $2.471.

As of 6:45AM EST this morning in Globex, WTI Crude was down 43 cents; Natural Gas was down five cents; Heating Oil was down one cent; and Gasoline was up slightly.
                   
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.
 

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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.