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Market Intel Archives

March NYMEX Natural Gas Futures Contracts Closed at $2.925 on Wednesday, February 15th

February 16, 2017

Wednesday, February 15th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.988, eight cents above Tuesday’s closing price of $2.905.  Reaching the intraday high of $2.991 out of the gate, rapid selling then directed prices downward as forecasts for low demand persist.  Rebounding from the $2.93 mark near 10:30AM, momentary buying lifted the contract above $2.970 by midday.  Unable to maintain this ascent, prices fell to the intraday low of $2.917 at 1:10PM as March closed higher on Wednesday at $2.925.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 127 BCF withdrawal from storage for the week ended February 10th.  This compares to a 163 BCF withdrawal at this time last year and a five-year average withdrawal amount of 156 BCF.

This morning in Globex, WTI Crude was up 42 cents; Natural Gas was down two cents; Heating Oil was up two cents; and, Gasoline was down one cent.  Additionally, cash prices were higher in New York and New England.

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.

March NYMEX Natural Gas Futures Contracts Closed at $2.905 on Tuesday, February 14th

February 15, 2017

Tuesday, February 14th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.907, four cents below Monday’s closing price of $2.944.  Lacking direction in the day’s opening minutes, the contract soon mounted a promising ascent.  Reaching the intraday high of $2.953 at 10:30AM, prices then turned downward as forecasts continue to limit expectations for demand.  Sinking to the $2.90 mark by midday, March recorded the intraday low $2.887 at 2:00PM, closing lower on Tuesday at $2.905.

This morning in Globex, WTI Crude was down 34 cents; Natural Gas was up six cents; Heating Oil was down one cent; and, Gasoline was unchanged.  Additionally, cash prices were lower in New York and New England.


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.

March NYMEX Natural Gas Futures Contracts Closed at $2.944 on Monday, February 13th

February 14, 2017

Monday, February 13th, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.974, six cents below Friday’s closing price of $3.034.  Following a balanced start to the day, a quick jump to the intraday high of $2.994 at 9:30AM soon gave way to a steady decline.  As much of the country will be experiencing mild weather in the coming week, many traders took to selling throughout the afternoon.  Falling to a 12-week low of $2.942 after 2:00PM, March closed lower on Monday at $2.944.

This morning in Globex, WTI Crude was up 36 cents; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was up two cents.  Additionally, cash prices were higher in New York basis and New England.

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.

March NYMEX Natural Gas Futures Contracts Closed at $3.034 on Friday, February 10th

February 13, 2017

Friday, February 10th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.021, twelve cents below Thursday’s closing price of $3.141.  As demand is expected to fall in the coming week, prices fell to the intraday low of $3.011 in the day’s opening minutes.  Unsteady gains through the morning saw the contract cross midday near $3.045, and continued higher to reach the intraday high of $3.057 by 1:30PM.  Trailing downward to finish the day, March closed lower on Friday at $3.034.

This morning in Globex, WTI Crude is down 89 cents; Natural Gas is down six cents; Heating Oil is down four cents; and, Gasoline is down four cents.  Additionally, cash prices were lower in New York basis and New England.

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.

March NYMEX Natural Gas Futures Contracts Closed at $3.141 on Thursday, February 9th

February 10, 2017

Thursday, February 9th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.175, five cents above Wednesday’s closing price of $3.126.  After a steady ascent in the day’s opening minutes to reach the intraday high of $3.189 the contract then fell to the $3.160 mark by 10:00AM.  As the weekly storage publication hit the wire thirty minutes later, prices momentarily peaked above $3.170 before plummeting lower.  Recording the intraday low of $3.110 at 10:50AM, the market found stability near $3.130 and traded sideways into the afternoon.  Sinking below $3.120 near 1:30PM, March then climbed upward to finish higher on Thursday at $3.141.

The EIA Natural Gas Storage Report published on Thursday showed a 152 BCF withdrawal from storage for the week ended February 3rd – even with the market estimate. It is worth noting that the withdrawal included a reclassification from working gas to base gas of roughly 5 BCF. Total working gas in storage was reported as 2,559 BCF, 11.3% below this time last year and 1.8% above the five-year average.

This morning in Globex, WTI Crude was up 87 cents; Natural Gas was down 11 cents; Heating Oil was up three cents; and, Gasoline was up three cents.  Additionally, cash prices were nearly unchanged in both regions.


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.

March NYMEX Natural Gas Futures Contracts Closed at $3.126 on Wednesday, February 8th

February 09, 2017

Wednesday, February 8th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.081, five cents below Tuesday’s closing price of $3.130.  Emerging into the market in a confident ascent, prices rose as high as $3.148 before losing support near 10:30AM.  Seesawing along $3.125 for the following ninety minutes, the afternoon brought additional gains as the contract peaked at the intraday high of $3.162 at 1:20PM.  An even-paced decline then spanned the day as March closed slightly lower on Wednesday at $3.126.

The EIA Natural Gas Storage Report is due out at 10:30AM today.  The report is expected to show a 152 BCF withdrawal from storage for the week ended February 3rd.  This compares to a 70 BCF withdrawal at this time last year and a five-year average withdrawal amount of 138 BCF.


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.

March NYMEX Natural Gas Futures Contracts Closed at $3.130 on Tuesday, February 7th

February 08, 2017

Tuesday, February 7th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.144, nine cents above Monday’s closing price of $3.050.  As traders found value the market’s low pricing, overnight gains flowed into the morning to direct prices to the intraday high of $3.156 early on.  Dipping lower to trade within a penny of $3.130 for the balance of the morning, a modest rise near $3.140 into the early afternoon eventually gave way as March closed higher on Tuesday at $3.130.

This morning in Globex, WTI Crude was down 38 cents; Natural Gas was down five cents; Heating Oil was down slightly; and, Gasoline was down one cent.  Additionally, cash prices were higher in New York and New England.


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.

March NYMEX Natural Gas Futures Contracts Closed at $3.050 on Monday, February 6th

February 08, 2017

Monday, February 6th, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.010, five cents below Friday’s closing price of $3.063.  Slipping to the intraday low of $3.006 in the day’s opening minutes, the contract soon recovered and began a hesitant ascent into the morning.  Reaching the intraday high of $3.069 by midday, the market settled in near the $3.06 mark as forecasts continue to disappoint.  March closed lower on Monday at $3.050.

This morning in Globex, WTI Crude was down 28 cents; Natural Gas was up five cents; Heating Oil was down one cent; and, Gasoline was also down one cent.  Additionally, cash prices were lower in New York and New England.

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.

March NYMEX Natural Gas Futures Contracts Closed at $3.063 on Friday, February 3rd

February 06, 2017

Friday, February 3rd, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.045, fourteen cents below Thursday’s closing price of $3.187.  Tallying a fresh two-month low of $3.042 in the day’s opening minutes, the contract climbed steadily to the intraday high of $3.094 thirty minutes later.  With no support of expected demand in the week to come, prices tumbled lower to $3.055 by midday.  Modest gains through the afternoon saw March close lower on Friday at $3.063.

This morning in Globex, WTI Crude was down five cents; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was up one cent.  Additionally, cash prices were lower in New York and New England.

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.

March NYMEX Natural Gas Futures Contracts Closed at $3.187 on Thursday, February 2nd

February 03, 2017

Thursday, February 2nd, saw the front-month NYMEX Natural Gas Futures Contracts open at $3.126, four cents below Wednesday’s closing price of $3.168.  Trading evenly through the first ninety minutes of the day, the contract mounted a staggered ascent near 10:30AM as the EIA announced that stockpiles fell below their five-year average.  Despite the storage report falling within market expectations, prices rose into the early afternoon, reaching the intraday high of $3.209 at 12:30PM.  Modest selling spanned the balance of the day as March closed higher on Thursday at $3.187.

The EIA Natural Gas Storage Report published on Thursday showed an 87 BCF withdrawal from storage for the week ended January 27th – just above the market estimate of 84 BCF.  Total working gas in storage was reported as 2,711 BCF, 8.9% below this time last year and 2.2% below the five-year average.

This morning in Globex, WTI Crude was up 16 cents; Natural Gas was down 11 cents; Heating Oil was unchanged; and, Gasoline was down one cent.  Additionally, cash prices were higher in New York and lower in New England.


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.