Thursday, August 15th saw the front-month NYMEX Natural Gas Futures Contract open at $2.172, nearly three cents higher than Wednesday’s closing price. Soon after open, prices fell to their intraday low of $2.151 at 9:30AM. Upon the release of the storage publication at 10:30AM, prices jumped to $2.240, and continued to climb to their intraday high of $2.267 at 11:50AM. Prices declined in the afternoon, closing at $2.232, about eight cents higher than Wednesday’s closing price.
The EIA Natural Gas Storage Report published on Thursday showed a 49 BCF injection to storage week ended August 9th – below the market estimate of 55 BCF. Total working gas in storage was reported at 2,738 BCF: 15.0% above this time last year and 3.9% below the five-year average.
As of 8:45 EST this morning in Globex, WTI Crude was up 36 cents; Natural Gas was down 4 cents; Heating Oil was up 1 cent; and Gasoline was up two 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.
