September NYMEX Natural Gas Futures Contracts Closed at $2.964 on Thursday, August 23rd

Thursday, August 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.941, nearly two cents below Wednesday’s closing price of $2.956.  Seeking direction as prices seesawed within a one-cent range of $2.945 through 10:30AM, the contract spiked as high as $2.966 as the weekly storage publication reported an injection that was in line with both market expectations and the five-year average.  Stepping higher into the afternoon to reach an intraday high of $2.982 at 1:10PM, September closed higher on Thursday at $2.964.

The EIA Natural Gas Storage Report published on Thursday showed a 48 BCF injection to storage for the week ended August 17th – just below the market estimate of 50 BCF.  Total working gas in storage was reported as 2,435 BCF; 21.9% below this time last year and 19.7% below the five-year average.

This morning in Globex, WTI Crude was up 82 cents; Natural Gas was down one cent; Heating Oil was up two cents; and, Gasoline was up two cents. 
 
Natural Gas Glossary
                                                                                                 
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.
 

Share:
RSS
Follow by Email
Facebook
X (Twitter)

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.