February NYMEX Natural Gas Futures Contract Closed at $3.672 on Monday, January 6th

Monday, January 6th saw the front-month NYMEX Natural Gas Futures Contract open at $3.684, up $0.330 compared to Friday’s closing price of $3.354. Recording the intraday high of $3.726 within minutes of the open, strong demand and below average temperatures covering much of the country provided support. Falling to a low of $3.554 at 10:25AM, volatility persisted throughout the day amidst shifting forecasts. Crossing midday at $3.683 and falling to $3.574 at 1:15PM, the session finished on an upswing as February closed higher on Monday at $3.672.

The EIA Natural Gas Storage Report published last Friday showed a 116 BCF withdrawal from storage for the week ended December 27 – below the market estimate of a 127 BCF withdrawal. Total working gas in storage was reported as 3,413 BCF; 1.9% below this time last year and 4.7% above the five-year average.

As of 6:55AM this morning in Globex, WTI Crude was up $0.540; Natural Gas was down $0.125; Heating Oil was up $0.014, and Gasoline was up $0.010.

                                                                                                       
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

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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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