September NYMEX Natural Gas Futures Contract Closed at $2.595 on Thursday, July 27th

Thursday, July 27th saw the front-month NYMEX Natural Gas Futures Contract open at $2.573, nine cents below Wednesday’s closing price of $2.665. Achieving the intraday high of $2.589 early on, prices withdrew throughout the day as August settled lower on Thursday at $2.492.

Set to assume the front-month position, the more actively traded September contract opened at $2.653, four cents below Wednesday’s closing price of $2.693. Achieving the day’s high within minutes of the open, prices trended lower following the bearish storage injection at 10:30AM. September closed lower as well at $2.595.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show an 8 BCF injection to storage for the week ended July 21. This compares to a 15 BCF injection at this time last year and a five-year average injection amount of 31 BCF.

As of 7:05AM EST this morning in Globex, WTI Crude was down 27 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down two cents.
                                                                                                 
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.