June NYMEX Natural Gas Futures Contract Closed at $8.415 on Wednesday, May 4th

Wednesday, May 4^th saw the June NYMEX Natural Gas Futures Contract open at $8.451, fifty cents above Tuesday’s closing price of $7.954. Following the pre-session rally, prices traded within an eleven-cent range of $8.360 throughout the day, reaching another multi-year intraday high of $8.473 at 1:15PM. Amid steady LNG exports and production interruptions, the latest bullish catalyst concerns how vulnerable storage levels are, pending a potential heavy cooling demand season this summer. June closed higher on Wednesday at $8.415.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 35 BCF injection to storage for the week ended April 29. This compares to a 60 BCF injection at this time last year and a five-year average injection amount of 78 BCF.

As of 6:30AM EST this morning in Globex, WTI Crude was up 36 cents; Natural Gas was up seven cents; Heating Oil was down six cents; and Gasoline was down slightly.

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.

Crude Gains Momentum: Key Trends Behind Monday’s Market Surge

January 14th, 2025

February NYMEX Natural Gas Futures Contract Closed at $3.9.34 on Monday, January 13th

January 14th, 2025

Crude Oil Market Well Supported by Cold Snap in U.S. and Europe

January 13th, 2025

February NYMEX Natural Gas Futures Contract Closed at $3.989 on Friday, January 10th

January 13th, 2025

Crude Oil Market Traded Higher, Supported by Increased Winter Fuel Demand

January 10th, 2025

February NYMEX Natural Gas Futures Contract Closed at $3.701 on Thursday, January 9th

January 10th, 2025

Large Builds in U.S. Oil Product Stocks

January 9th, 2025

February NYMEX Natural Gas Futures Contract Closed at $3.651 on Wednesday, January 8th