February NYMEX Natural Gas Futures Contract Closed at $3.9.34 on Monday, January 13th

Monday, January 13th saw the front-month NYMEX Natural Gas Futures Contract open at $4.022, up $0.033 compared to Friday’s closing price of $3.989. Entering the session on a pullback from the $4.185 region prior to the open, the contract fluctuated near the $3.98 level through midday as the weekend rally was over-bought. Marking the intraday high of $4.039 at 10:15AM, prices pulled back to an intraday low of $3.845 at 1:15PM. With freeze-offs diminishing and current forecasts priced into the market, February traded sideways into closing to finish at $3.934 on Monday

The EIA Natural Gas Storage Report published last Wednesday showed a 40 BCF withdrawal from storage for the week ended January 3 – below the market estimate of a 48 BCF withdrawal. Total working gas in storage was reported as 3,373 BCF; 0.1% below this time last year and 6.4% above the five-year average.

As of 7:20AM this morning in Globex, WTI Crude was down $0.340; Natural Gas was down $0.132; Heating Oil was down $0.021, and Gasoline was up $0.001.

                                                                                                       
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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