October NYMEX Natural Gas Futures Contract Closed at $2.637 on Wednesday, September 25th

Wednesday, September 25th saw the front-month NYMEX Natural Gas Futures Contract open at $2.611, $0.060 above Tuesday’s closing price of $2.551. Seeking direction throughout the session, traders weighed the impact that now Hurricane Helene will have on natural gas infrastructure as well as dampened demand. Falling to $2.576 by 10:15AM, prices rose to tally the intraday high of $2.644 nearly two hours later. Pulling back in the afternoon, the contract marked the intraday low of $2.563 at 2:15PM. Posting a late rally, October closed higher on Wednesday at $2.637.

The more actively-traded November contract posted a similar path on Wednesday, ultimately closing higher at $2.817.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 54 BCF injection to storage for the week ended September 20th. This compares to a 90 BCF injection this time last year and a five-year average injection amount of 88 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was down $1.69; Natural Gas was up five cents; Heating Oil was down three cents; and Gasoline was down three 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.

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