May NYMEX Natural Gas Futures Contract Closed at $2.114 on Friday, April 14th

Friday, April 14th saw the front-month NYMEX Natural Gas Futures Contract open at $1.986, two cents below Thursday’s closing price of $2.007. Falling to a seven-month intraday low of $1.968 at 9:30AM as forecasts trended warmer overnight, prices then rose to cross midday at $2.077. Ascending to an intraday high of $2.126 ahead of 2:30PM as the previous session’s selloff was overdone, May closed defiantly higher on Friday at $2.114.

The EIA Natural Gas Storage Report published on Thursday showed a 25 BCF injection to storage for the week ended April 7 – below with the market estimate of 31 BCF. Total working gas in storage was reported as 1,855 BCF; 33.0% above this time last year and 18.9% above the five-year average.

As of 7:10AM EST this morning in Globex, WTI Crude was down 29 cents; Natural Gas was up five cents; Heating Oil was down one cent; and Gasoline was down three cents.

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.