February NYMEX Natural Gas Futures Contract Closed at $4.258 on Thursday, January 16th

Thursday, January 16th saw the front-month NYMEX Natural Gas Futures Contract open at $4.124, up $0.041 compared to Wednesday’s closing price of $4.083. Prices were trading sideways near $4.120 leading up to the weekly storage publication, though withdrew as soon as the report fell hit the wire. Marking the intraday low of $4.025 at 10:55AM and again at 12:35PM, the contract posted a late-day rally to record a fresh one-year intraday high of $4.231. February closed higher on Thursday at $4.258.

The EIA Natural Gas Storage Report published on Wednesday showed a 258 BCF withdrawal from storage for the week ended January 10 – in line with the market estimate of a 258 BCF withdrawal. Total working gas in storage was reported as 3,115 BCF; 3.4% below this time last year and 2.5% above the five-year average.

As of 7:35AM this morning in Globex, WTI Crude was down $0.070; Natural Gas was down $0.176; Heating Oil was down $0.011; and Gasoline was down $0.004.

                                                              
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.

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