February NYMEX Natural Gas Futures Contract Closed at $3.311 on Wednesday, January 18th

Wednesday, January 18th saw the February NYMEX Natural Gas Futures Contract open at $3.410, nearly eighteen cents above Tuesday’s closing price of $3.586. Trading along either side of $3.435 through midday, prices rose to tally an intraday high of $3.496 at 11:55AM. Trending downward through the afternoon as production remains steady and doubts arise surrounding the end of month chill, the contract fell to an 18-month intraday low of $3.287 at 2:15PM. February closed lower on Wednesday at $3.311.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 73 BCF withdrawal from storage for the week ended January 13. This compares to a 206 BCF withdrawal at this time last year and a five-year average withdrawal amount of 156 BCF.

As of 7:05AM EST this morning in Globex, WTI Crude was down 71 cents; Natural Gas was up six cents; Heating Oil was down two cents; and Gasoline was down slightly.
                                                      
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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