November NYMEX Natural Gas Futures Contract Closed at $2.886 on Wednesday, October 2nd

Wednesday, October 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.979, $0.083 above Tuesday’s closing price of $2.896. In a volatile session, prices rose to touch the $3.00 level ahead of the opening bell as forecasts brought in cooler temperatures. Falling to an intraday low of $2.870 at 11:00AM, the contract continued to seek direction within a ten-cent range through the afternoon. November closed lower on Wednesday at $2.886.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 52 BCF injection to storage for the week ended September 27th. This compares to an 86 BCF injection this time last year and a five-year average injection amount of 98 BCF.

As of 6:15AM EST this morning in Globex, WTI Crude was up $1.44; Natural Gas was up $0.027; Heating Oil was up $0.35; and Gasoline was up $0.039.

                                                                                                       
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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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