July NYMEX Natural Gas Futures Contract Closed at $3.045 on Wednesday, June 12th

Wednesday, June 12^thsaw the front-month NYMEX Natural Gas Futures Contract open at $3.051, seven cents below Tuesday’s closing price of $3.129. Battling upward on the back of forecasted elevated cooling demand, prices rose to the intraday high of $3.123 at 10:25AM. Trending lower soon thereafter, bearish pressure could be attributed to the approval and startup of the new, 2.0 BCF/d, Mountain Valley Pipeline. Marking the intraday low of $2.995 at 12:20PM, July closed lower on Wednesday at $3.045.

The EIA Natural Gas Storage Report is due out on Thursday at 10:30AM. The report is expected to show a 76 BCF injection to storage for the week ended June 7^th. This compares to an 84 BCF injection this time last year and a five-year average injection amount of 89 BCF.

As of 7:00AM EST this morning in Globex, WTI Crude was down 60 cents; Natural Gas was down one cent; Heating Oil was down one cent; and Gasoline was down one cent.

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.

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