August NYMEX Natural Gas Futures Contracts Closed at $2.855 on Monday, July 2nd

Monday, July 2nd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.879, more than four cents below Friday’s closing price of $2.924.  Stepping gradually lower as markets opened, prices fell to a five-week intraday low of $2.852 by 11:30AM.  Despite increased cooling demand and above-average temperatures covering the entire east coast, the contract seesawed along $2.855 for the balance of the day as August closed lower on Monday at $2.862.

The NYMEX will be closed tomorrow, July 4th in observance of the Independence Day holiday.
This morning in Globex, WTI Crude was up 81 cents; Natural Gas was unchanged; 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.
 

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.