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July NYMEX Natural Gas Futures Contract Closed at $2.262 on Tuesday, June 6th

By spragueoperati | June 7, 2023 | 0 Comments

Tuesday, June 6th saw the front-month NYMEX Natural Gas Futures Contract open at $2.201, four cents below Monday’s closing price of $2.245. Digesting the updated bullish weather forecasts overnight, the […]

Concerns Over Global Economic Growth Outweighed Saudi Arabia’s Pledge Over the Weekend to Increase its Output Cuts

By spragueoperati | June 7, 2023 | 0 Comments

Recap:   The oil market erased Monday’s gains and retraced almost 62% of its move from a recent low of $67.03 to its high of $75.06 on profit taking. Concerns over […]

July NYMEX Natural Gas Futures Contract Closed at $2.245 on Monday, June 5th

By spragueoperati | June 6, 2023 | 0 Comments

Monday, June 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.263, nine cents above Friday’s closing price of $2.172. Seeking direction throughout the morning, following the overnight […]

Saudi Arabia Pledged to Cut its Production by a Further 1 Million Bpd to 9 Million Bpd Starting in July

By spragueoperati | June 6, 2023 | 0 Comments

Recap:  The oil market rallied higher on Monday after Saudi Arabia pledged to cut its production by a further 1 million bpd to 9 million bpd starting in July. The […]

July NYMEX Natural Gas Futures Contract Closed at $2.172 on Friday, June 2nd

By spragueoperati | June 5, 2023 | 0 Comments

Friday, June 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.193, nearly four cents above Thursday’s closing price of $2.158. Ascending to trade along the $2.220 level […]

The Market Was Well Supported After the U.S. Senate Passed a Bill Raising the Debt Ceiling Late Thursday Night

By spragueoperati | June 5, 2023 | 0 Comments

Recap:  On Friday, the oil market extended Thursday’s 3% gain and increased by an additional 2% ahead of the weekend. The market was well supported after the U.S. Senate passed […]

July NYMEX Natural Gas Futures Contract Closed at $2.158 on Thursday, June 1st

By spragueoperati | June 2, 2023 | 0 Comments

Thursday, June 1st saw the front-month NYMEX Natural Gas Futures Contract open at $2.200, nearly seven cents below Wednesday’s closing price of $2.266. Achieving the intraday high as the opening […]

The Oil Market Was Supported by Hopes For a Pause in U.S. Interest Rate Increases

By spragueoperati | June 2, 2023 | 0 Comments

Recap:  The market retraced little more than 62% of the selloff seen over the past couple of sessions, despite the weekly petroleum stock report showing an unexpected build in crude […]

July NYMEX Natural Gas Futures Contract Closed at $2.266 on Wednesday, May 31st

By spragueoperati | June 1, 2023 | 0 Comments

Wednesday, May 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.372, five cents above Tuesday’s closing price of $2.327. Peaking at the intraday high of $2.410 ahead […]

The Crude Market Traded Mostly Sideways in Overnight Trading Before it Began its Sell Off

By spragueoperati | June 1, 2023 | 0 Comments

Recap:  The oil market continued to trend lower on Wednesday following some weak data from China. The crude market traded mostly sideways in overnight trading before it began its sell […]