May NYMEX Natural Gas Futures Contract Closed at $2.455 on Tuesday, April 23rd

Tuesday, April 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.517, slightly below Monday’s closing price of 2.524.  Plummeting more than 2% within the day’s opening hour of trading, prices found a bottom near $2.465 shortly after 10:00AM.  With no support from weather forecasts and storage levels expecting plentiful injections in the coming weeks, bears seem to be comfortably in control of the market.  Ticking marginally downward until reaching an intraday low of $2.451 at 2:20PM, May closed lower on Tuesday at $2.455.

As of 8:45AM EST this morning in Globex, WTI Crude was unchanged; Natural Gas was up two cents; Heating Oil was down one cent; and Gasoline was down two cents. 
 
Natural Gas Glossary
Natural Gas Supplier
                                                                                                 
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.