Friday, August 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.191, three cents above Thursday’s closing price of $2.165. Seeking direction early on as the contract traded within three cents of $2.210 for most of the morning, prices fell to an intraday low of $2.175 ahead of midday. Recovering into the afternoon as rig counts continue to decline, the contract rose to an intraday high of $2.254 at 1:40PM. The September contract closed higher on Friday at $2.238, nearly 25% higher on the week.
As of 7:00AM EST this morning in Globex, WTI Crude was up 57 cents; Natural Gas was up two cents; Heating Oil was up one cent; and Gasoline was up 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.