October NYMEX Natural Gas Futures Contract Closed at $2.048 on Friday, September 18th

Friday, September 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.015 three cents below Thursday’s closing price of $2.042.  Straddling $2.015 for the majority of the session, prices fell to a fresh six-week intraday low of $1.984 at 10:45AM and rose to an intraday high of $2.050 at 1:30PM.  Fighting off additional losses following Thursday’s large storage injection and comfortable seasonal temperatures, which should temper demand, the contract seems to have found support at the $2.00 level for the time being.  The October contract closed at $2.048 on Friday, down nearly 10% on the week.

As of 8:45AM EST this morning in Globex, WTI Crude was down $1.05; Natural Gas was down nine cents; Heating Oil was down three cents; and Gasoline was down five cents.

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.
 

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.