February NYMEX Natural Gas Futures Contracts Closed at $3.444 on Tuesday, January 23rd

Tuesday, January 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $3.348, twelve cents above Monday’s closing price of $3.224.  Expectations for an above average storage withdrawal for the week ended January 19th saw overnight gains continue into the morning as the contract surpassed the $3.43 mark by 9:30AM.  Bolstered by weather-driven fundamentals in the Northeast, prices rallied to a one-year intraday high of $3.459 shortly past midday.  Managing to sustain this momentum, February traded sideways into the afternoon before closing higher on Tuesday at $3.444.

This morning in Globex, WTI Crude was up 16 cents; Natural Gas was up 14 cents; Heating Oil was up one cent; and, Gasoline was down one cent.
 
Natural Gas Glossary
                                                                                                 
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.