September NYMEX Natural Gas Futures Contract Closed at $2.621 on Thursday, August 17th

Thursday, August 17th saw the front-month NYMEX Natural Gas Futures Contract open at $2.627, nearly four cents above Wednesday’s closing price of $2.592. Ascending to the intraday high of $2.670 at 10:00AM, prices were hovering near $2.650 as the weekly storage publication released thirty minutes later. Pulling back to tally the intraday low of $2.611 at 11:30AM and again at 2:20PM, September closed slightly higher on Thursday at $2.621.

The EIA Natural Gas Storage Report published on Thursday showed a 35 BCF injection to storage for the week ended August 11 – in line with the market estimate of 39 BCF. Total working gas in storage was reported as 3,065 BCF; 21.8% above this time last year and 10.8% above the five-year average.

As of 7:25 AM EST this morning in Globex, WTI Crude was down 21 cents; Natural Gas was down four cents; Heating Oil was down two cents; and Gasoline was down three 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.
 

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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.