June NYMEX Natural Gas Futures Contract Closed at $8.304 on Tuesday, May 17th

Tuesday, May 17th saw the June NYMEX Natural Gas Futures Contract open at $8.224, twenty-seven cents above Monday’s closing price of $7.956. Trading within a tight band, relative at least to past few sessions, near the $8.260 level for the majority of the day as the main driver of the recent rally haven’t changed. Marking an intraday high of $8.372 at 9:45AM and the intraday low of $8.135 at midday, June closed higher on Tuesday at $8.304.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 89 BCF injection to storage for the week ended May 13. This compares to a 71 BCF injection at this time last year and a five-year average injection amount of 87 BCF.

As of 6:50AM EST this morning in Globex, WTI Crude was up $1.34; Natural Gas was up two cents; Heating Oil was up three 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.