August NYMEX Natural Gas Futures Contract Closed at $2.117 on Wednesday, July 24th

Wednesday, July 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.124, six cents below Tuesday’s closing price of $2.187. Subdued by steady production and storage levels holding steady above historic averages, prices move cautiously higher through the morning before continuing lower once again. Marking the intraday high of $2.168 at 11:40AM and the intraday low of $2.111 ahead of 2:30PM, August closed lower Wednesday at $2.117.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30 AM. The report is expected to show a 14 BCF injection to storage for the week ended July 19th. This compares to a 16 BCF injection this time last year and a five-year average injection amount of 31 BCF.

As of 7:40AM EST this morning in Globex, WTI Crude was down $1.23; Natural Gas was flat; Heating Oil was down four cents; and Gasoline was down four 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.