July NYMEX Natural Gas Futures Contract Closed at $2.327 on Tuesday, May 30th

Market Insights
Natural Gas
May 31, 2023
Tuesday, May 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.323, nine cents below Friday’s closing price of $2.417. Following the long holiday weekend, prices peaked at the intraday high of $2.340 at 9:15AM as short-term weather forecasts remained bearish. Drifting gradually lower throughout the day to record the intraday high of $2.257 at 1:30PM, a late rally saw July stave off additional losses, closing lower on Tuesday at $2.327.

As of 6:30AM EST this morning in Globex, WTI Crude was down $1.86; Natural Gas was down three cents; Heating Oil was down three cents; and Gasoline was down four cents.
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.