March NYMEX Natural Gas Futures Contract Closed at $4.174 on Tuesday, February 25th

Tuesday, February 25th saw the front-month NYMEX Natural Gas Futures Contract open at $4.032, up $0.038 compared to Monday’s closing price of $3.994. Trading along $4.035 throughout the morning, prices touched down to the intraday low of $3.995 at 10:25AM. Posting a late day rally as traders shifted focus to squaring their positions ahead of settlement and the impending storage withdrawal, the contract rose to tally an intraday high of $4.177 ahead of 2:30PM. March closed higher on Tuesday at $4.174.

The more actively traded April contract finished $0.148 higher to close at $4.130.

The EIA Natural Gas Storage Report is due out Thursday at 10:30AM. The report is expected to show a 271 BCF withdrawal from storage for the week ended February 21. This compares to a 96 BCF withdrawal this time last year and a five-year average withdrawal amount of 79 BCF.

As of 6:35AM this morning in Globex, WTI Crude was down $0.040; Natural Gas was up $0.016; Heating Oil was down $0.016; and Gasoline was flat.

                                                                                                 
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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