July NYMEX Natural Gas Futures Contract Closed at $1.822 on Thursday, June 4th

Thursday, June 4th saw the front-month NYMEX Natural Gas Futures Contract open at $1.819, just below Wednesday’s closing price of $1.821.  Rising steadily to $1.835 ahead of 10:30AM, prices jumped to an intraday high of $1.854 as the weekly storage publication hit the wire.  Falling to an intraday low of $1.795 nearly an hour later, the contract spent the balance of the session ascending to the $1.820 level.  The July contract closed flat on Thursday at $1.822.

The EIA Natural Gas Storage Report published on Thursday showed a 102 BCF injection to storage for the week ended May 29th – below the market estimate of 106. Total working gas in storage was reported as 2,714 BCF: 39.0% above this time last year and 18.4% above the five-year average.

As of 7:55AM EST this morning in Globex, WTI Crude was up 96 cents; Natural Gas was unchanged; Heating Oil was up four cents; and Gasoline was up three cents.

Natural Gas Glossary
Natural Gas Supplier
                                                                                                       
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.