September NYMEX Natural Gas Futures Contracts Closed at $2.949 on Wednesday, August 8th

Wednesday, August 8th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.910, a penny above Tuesday’s closing price of $2.897.  Surging upward as today’s storage report and short-term above average temperatures continue to support bullish sentiment, prices eclipsed $2.930 within minutes of the opening bell.  Posting gradual gains through the day as the contract slipped multiple times upon approaching the $2.95 level, traders finally broke through at 2:20PM to reach a fresh six-week intraday high of $2.951, as September closed higher on Wednesday at $2.949.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 48 BCF injection to storage for the week ended August 3rd.  This compares to a 30 BCF injection at this time last year and a five-year average injection amount of 53 BCF.

This morning in Globex, WTI Crude was up 18 cents; Natural Gas was down one cent; Heating Oil was up one cent; and, Gasoline was unchanged.
Natural Gas Glossary
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to 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.