August NYMEX Natural Gas Futures Contract Closed at $2.319 on Friday, July 5th

Friday, July 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.379, four cents below Wednesday’s closing price of $2.418. Ascending to the intraday high of $2.405 at 9:35AM, prices then trended lower as bearish sentiment took hold. Posting a gradual decline to cross midday at $2.348, the contract recorded a two-month intraday low of $2.316 ahead of 2:30PM. August closed lower on Friday at $2.319.

The EIA Natural Gas Storage Report published last Wednesday showed a 32 BCF injection to storage for the week ended June 28 – in line with the market estimate 30 BCF. Total working gas in storage was reported as 3,134 BCF; 9.6% above this time last year and 18.8% above the five-year average.

As of 8:30AM EST this morning in Globex, WTI Crude was down 52 cents; Natural Gas was up three cents; Heating Oil was down two cents; and Gasoline was down one cent.

                                                                                                 
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.