October NYMEX Natural Gas Futures Contract Closed at $2.534 on Friday, September 20th

Friday, September 20th saw the front-month NYMEX Natural Gas Futures Contract open at $2.568, three cents above Thursday’s closing price of $2.538.  Inching upward to reach an intraday high of $2.579 by 9:10AM, traders soon resumed the selling that had persisted since Wednesday as markets quieted following the drone attacks in Saudi Arabia and Thursday’s bearish storage injection.  Trailing downward to an intraday low of $2.506 by 11:10AM, as the $2.500 continues to provide resistance, the contract managed a modest recovery as the afternoon drew on.  October closed nearly flat on Friday at $2.534, down 3% on the week.

As of 9:00AM EST this morning in Globex, WTI Crude was up 16 cents; Natural Gas was down three cents; Heating Oil was up slightly; and Gasoline was down one cent. 

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.