March NYMEX Natural Gas Futures Contract Closed at $3.047 on Thursday, January 30th

Thursday, January 30th saw the front-month NYMEX Natural Gas Futures Contract open at $3.155, down $0.015 compared to Wednesday’s closing price of $3.170. Trading along the $3.130 mark leading up to the weekly storage publication, prices briefly jumped to an intraday high of $3.171. With the historic storage pull preemptively priced into the market, the contract then withdrew into the afternoon as traders focused on the impending bearish temperatures. Marking an eight-week intraday low of $3.036 at 1:55PM, March closed lower on Thursday at $3.047.

The EIA Natural Gas Storage Report published on Thursday showed a 321 BCF withdrawal from storage for the week ended January 24 – in line with the market estimate of a 320 BCF withdrawal. Total working gas in storage was reported as 2,571 BCF; 5.3% below this time last year and 4.1% above the five-year average.

As of 6:00AM this morning in Globex, WTI Crude was down $0.230; Natural Gas was up $0.023; Heating Oil was up $0.022; and Gasoline was up $0.001.

                                                                                                 
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 Oil Market Posted Modest Gains as Traders Considered Possible Tariffs

janvier 31st, 2025
The Easing Concern Over Libyan Supply

janvier 30th, 2025
March NYMEX Natural Gas Futures Contract Closed at $3.170 on Wednesday, January 29th

janvier 30th, 2025
Oil Market Rebounds After Selloff Amid AI Disruption and Equity Volatility

janvier 29th, 2025
February NYMEX Natural Gas Futures Contract Closed at $3.471 on Tuesday, January 28th

janvier 29th, 2025
The Crude Market Traded Lower Amid Losses in the Equity Markets

janvier 28th, 2025
February NYMEX Natural Gas Futures Contract Closed at $3.697 on Monday, January 27th

janvier 28th, 2025
The Oil Market Ended its Four Consecutive Weeks of Gains

janvier 27th, 2025
February NYMEX Natural Gas Futures Contract Closed at $4.027 on Friday, January 24th

janvier 27th, 2025
Traders Consider How Tariffs and Energy Policies Will Impact Global Economic Growth

janvier 24th, 2025