June NYMEX Natural Gas Futures Contract Closed at $8.308 on Thursday, May 19th

Thursday, May 19th saw the June NYMEX Natural Gas Futures Contract open at $8.090, twenty-eight cents below Wednesday’s closing price of $8.368. Marking the intraday low of $8.056 in the day’s opening minutes, the contract rose to trade along $8.200 in the hour preceding the weekly storage publication. Rising confidently as the report hit the wire at 10:30AM, prices peaked at an intraday high of $8.500 at 11:25AM. Losing ground in the afternoon hours as profit-taking took hold, June closed lower on Thursday at $8.308.
 
The EIA Natural Gas Storage Report published on Thursday showed an 89 BCF injection to storage for the week ended May 13th – even to the market estimate. Total working gas in storage was reported as 1,732 BCF; 17.1% below this time last year and 15.2% below the five-year average.
 
As of 6:50AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was down 36 cents; Heating Oil was up one cent; and Gasoline was up five 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.

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.