August NYMEX Natural Gas Futures Contract Closed at $2.125 on Thursday, July 18th

Thursday, July 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.077, four cents above Wednesday’s closing price of $2.035. Continuing its pre-opening ascent to trade near $2.095 ahead of the weekly storage publication, prices then rose to tally the intraday high of $3.014 as the bullish report hit the wire. Trading within a tight band near $2.120 into the afternoon, August closed higher on Thursday at $2.125.

The EIA Natural Gas Storage Report published last Thursday showed a 10 BCF injection to storage for the week ended July 12 – below the market estimate 20 BCF. Total working gas in storage was reported as 3,209 BCF; 8.4% above this time last year and 16.9% above the five-year average.

As of 7:25AM EST this morning in Globex, WTI Crude was down 37 cents; Natural Gas was down five cents; Heating Oil was down one cent; 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.