June NYMEX Natural Gas Futures Contract Closed at $3.109 on Monday, May 17th

Monday, May 17th saw the front-month NYMEX Natural Gas Futures Contract open at $3.074, eleven cents above Friday’s closing price of $2.961.  Climbing from the intraday low as markets opened, prices rose steadily to reach $3.145 by 10:30AM.  Fueled by an expected increase in cooling demand due to above average temperatures, and some traders possibly being caught in a short-squeeze, the contract tallied a three-month intraday high of $3.150 at 1:00PM.  June closed higher on Monday at $3.109.

As of 6:10AM EST this morning in Globex, WTI Crude was up 29 cents; Natural Gas was down two cents; Heating Oil was up one cent; and Gasoline was up two cents.
 
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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.