September NYMEX Natural Gas Futures Contracts Closed at $2.895 on Wednesday, August 29th

On Wednesday, August 29th – settlement day for the September Contract – the front-month NYMEX Natural Gas Futures Contracts open at $2.875, two cents above Tuesday’s closing price of $2.852.  Tumbling downward to the intraday low of $2.843 by 11:00AM, prices stepped gradually higher to retake $2.865 near 1:00PM.  Experiencing volatility over the day’s final hour, September surged to the intraday high of $2.905 before settling higher at $2.895.  October closed roughly two cents higher on Wednesday at $2.863.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 67 BCF injection to storage for the week ended August 24th.  This compares to a 30 BCF injection at this time last year and a five-year average injection amount of 59 BCF.

This morning in Globex, WTI Crude was up 40 cents; Natural Gas was up two cents; Heating Oil was up one cent; and, Gasoline was up one cent.
 
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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.

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