March NYMEX Natural Gas Futures Contract Closed at $3.408 on Thursday, February 6th

Thursday, February 6th saw the front-month NYMEX Natural Gas Futures Contract open at $3.361, up $0.001 compared to Wednesday’s closing price of $3.360. Recording the intraday low of $3.306 at 9:45AM, the contract traded near $3.330 leading up to the weekly storage report. Lacking an immediate response as the publication fell in line with expectations, prices then ticked gradually higher through midday. Bolstered by a forecasted increase in heating demand in the coming week, March rose to tally the intraday high of $3.430 at 2:00PM, ultimately closing higher on Thursday at $3.408.

The EIA Natural Gas Storage Report published on Thursday posted a 174 BCF withdrawal from storage for the week ended January 31 – in line with the market estimate of a 179 BCF withdrawal. Total working gas in storage was reported as 2,397 BCF; 8.0% below this time last year and 4.4% below the five-year average.

As of 6:55AM this morning in Globex, WTI Crude was up $0.480; Natural Gas was down $0.012; Heating Oil was up $0.021; and Gasoline was up $0.013.

                                                                                                 
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

Share:
RSS
Follow by Email
Facebook
X (Twitter)

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.

Related Articles

The Role of Natural Gas in New England’s Energy Mix

février 6th, 2025
The Market Weighed a Large Build in Crude and Gasoline Stocks

février 6th, 2025
March NYMEX Natural Gas Futures Contract Closed at $3.360 on Wednesday, February 5th

février 6th, 2025
The Oil Market Sold Off as the U.S. Tariffs on China Took Effect

février 5th, 2025
March NYMEX Natural Gas Futures Contract Closed at $3.253 on Tuesday, February 4th

février 5th, 2025
The Pause of New Tariffs on Mexico

février 4th, 2025
March NYMEX Natural Gas Futures Contract Closed at $3.352 on Monday, February 3rd

février 4th, 2025
The Market Awaits News of Tariffs on Canada and Mexico

février 3rd, 2025
March NYMEX Natural Gas Futures Contract Closed at $3.044 on Friday, January 31st

février 3rd, 2025
The Oil Market Posted Modest Gains as Traders Considered Possible Tariffs

janvier 31st, 2025