February NYMEX Natural Gas Futures Contracts Closed at $2.940 on Monday, December 31st

Monday, December 31st saw the front-month NYMEX Natural Gas Futures Contracts open at $3.128, nearly eighteen cents below Friday’s closing price of $3.303.  Falling drastically on the last trading day of the year, the contract tested lows not seen since mid-September.  Lacking fundamental support from short-term weather forecasts, prices gradually declined on Monday until marking an intraday low of $2.930 late in the day, as February closed lower at $2.940.

The EIA Storage Report for the week ended December 28th, will be published on Friday, January 4th.

This morning in Globex, WTI Crude was down 84 cents; Natural Gas was up one cent; Heating Oil was down one cent; and Gasoline was down two cents.  Additionally, cash prices were higher in New York and lower in New England.
 
 
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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.