Friday, March 13th saw the front-month NYMEX Natural Gas Futures Contract open at $1.921, eight cents above Thursday’s closing price of $1.841. Reaching an intraday high of $1.951 by 9:20AM, prices soon faltered and began a choppy descent to an intraday low of $1.852 at 11:40AM. Hampered by mild temperatures and concerns of lower demand due to a coronavirus induced economic slowdown, the contract traded along either side of $1.875 for the balance of the day. Closing up nearly 10% on the week, the April contract closed higher on Friday at $1.869.
As of 8:45AM EST this morning in Globex, WTI Crude was down $2.68; Natural Gas was down seven cents; Heating Oil was down 10 cents; and Gasoline was down 20 cents.
New York and New England basis values were unchanged for all seasons. Additionally, cash prices were higher in New York and New England.
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.