August NYMEX Natural Gas Futures Contract Closed at $6.600 on Thursday, July 14th

Thursday, July 14th saw the August NYMEX Natural Gas Futures Contract open at $6.847, sixteen cents above Wednesday’s closing price of $6.689. Seeking direction as the contract fluctuated within a large berth of the $6.770 level leading up to the weekly storage publication, prices sank to the intraday low of $6.537 at 10:45AM. Recovering to tally the intraday high of $6.860 ahead of midday. August closed lower on Thursday at $6.600.

The EIA Natural Gas Storage Report published on Thursday showed a 58 BCF injection to storage for the week ended July 8 – in line with the market estimate of 53 BCF. Total working gas in storage was reported as 2,369 BCF; 9.6% below this time last year and 11.9% below the five-year average.

As of 7:20AM EST this morning in Globex, WTI Crude was up $1.50; Natural Gas was down 11 cents; Heating Oil was up three cents; and Gasoline was up six cents.

Natural Gas Glossary
Natural Gas Supplier
              
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.