August NYMEX Natural Gas Futures Contract Closed at $8.554 on Wednesday, July 27th

Wednesday, July 27th saw the August NYMEX Natural Gas Futures Contract open at $8.651, thirty-four cents below Tuesday’s closing price of $8.993. With limited trading on its settlement day, the August contract settled lower at $8.687.

The more actively traded September contract opened at $8.542, twenty-eight cents below Tuesday’s price. Achieving an intraday high of $8.750 at 9:30AM and an intraday low of $8.345 at 12:40PM, August closed lower on Wednesday at $8.554.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 19 BCF injection to storage for the week ended July 22. This compares to a 36 BCF injection at this time last year and a five-year average injection amount of 32 BCF.

As of 7:35AM EST this morning in Globex, WTI Crude was up $2.28; Natural Gas was down 13 cents; Heating Oil was up eight cents; and Gasoline was up one cent.

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.
 

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.