April NYMEX Natural Gas Futures Contracts Closed at $2.591 on Friday, March 23rd

Friday, March 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.591, nearly three cents below Thursday’s closing price of $2.617.  Climbing from the one-month intraday low of $2.579 as markets opened, prices rose steadily to reach the intraday high of $2.614 at 10:40AM.  Stepping modestly lower over the balance of the day, April closed lower on Friday at $2.591.  Sinking below the $2.60 mark, which has served as a steadfast resistance level over the past year, seemed to be a sure sign that below-average temperatures will soon depart and the injection season will begin as demand wanes. 

This morning in Globex, WTI Crude was down 17 cents; Natural Gas was down one cent; Heating Oil was up one cent; and, Gasoline was unchanged.  
 
Natural Gas Glossary
                                                                                                 
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.