June NYMEX Natural Gas Futures Contract Closed at $2.134 on Tuesday, May 5th

Market Insights
Natural Gas
NYMEX
SDS
May 6, 2020
Tuesday, May 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.087, nearly ten cents above Monday’s closing price of $1.993.  Following a pipeline explosion in Kentucky late Monday afternoon, markets were trading above the $2.15 level overnight.  Combined with bullish pressure from a drop in active natural gas rigs, prices rose from an intraday low of $2.082 soon after the opening bell and surged higher into the morning.  Reaching a near four-month intraday high of $2.162 ahead of midday, the contract stepped lower into the afternoon.  June closed lower on Tuesday at $2.134.

As of 8:15AM EST this morning in Globex, WTI Crude was down 95 cents; Natural Gas was down nine cents; Heating Oil was down two cents; 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.