February NYMEX Natural Gas Futures Contracts Closed at $2.923 on Tuesday, January 9th

Tuesday, January 9th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.882, five cents above Monday’s closing price of $2.835. Prices gradually took steps downward in the opening hours of trading to reach the intraday low of $2.825 at 10:00AM. With storage withdrawal estimates beyond 300 BCF for last week – a pull that would surpass the current record of 288 BCF from January 2014, the contract mounted an impressive ascent to hit the $3.00 mark by 2:40PM. February closed higher on Tuesday at $2.923.

This morning in Globex, WTI Crude was up 45 cents; Natural Gas was up three cents; Heating Oil was up one cent; and, Gasoline was up slightly.

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.

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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.