September NYMEX Natural Gas Futures Contract Closed at $2.127 on Thursday, August 8th

Thursday, August 8th saw the front-month NYMEX Natural Gas Futures Contract open at $2.081, three cents below Wednesday’s closing price of 2.112. Falling to the intraday low of $2.028 by 10:05AM, prices were trading near $2.046 ahead of the weekly storage publication. Ascending confidently following the bullish-leaning storage injections, and a reduction in production due to maintenance, the contract rose to record an intraday high of $2.179 at 12:30PM. Finding its bearings, September pulled back to finish the day slightly higher at $2.127

The EIA Natural Gas Storage Report published last Thursday showed a 21 BCF injection to storage for the week ended August 2 – below the market estimate 30 BCF. Total working gas in storage was reported as 3,270 BCF; 8.2% above this time last year and 14.9% above the five-year average.

As of 6:35AM EST this morning in Globex, WTI Crude was up 27 cents; Natural Gas was up three cents; Heating Oil was up one cent; and Gasoline was flat.

                                                                                                 
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

Oil Market’s Gains Remain Limited by the Fed’s Signal on Interest Rate Cuts

December 20th, 2024
January NYMEX Natural Gas Futures Contract Closed at $3.584 on Thursday, December 19th

December 20th, 2024
Crude Oil Gains Limited after Federal Reserve Signals Interest Rate Cuts Next Year

December 19th, 2024
January NYMEX Natural Gas Futures Contract Closed at $3.374 on Wednesday, December 18th

December 19th, 2024
Oil Market Extends Losses Amid China Concerns, Federal Reserve Interest Rate Decision Looms

December 18th, 2024
January NYMEX Natural Gas Futures Contract Closed at $3.308 on Tuesday, December 17th

December 18th, 2024
Crude Oil Dips as Chinese Demand Weaken and Fed Decision Looms

December 17th, 2024
January NYMEX Natural Gas Futures Contract Closed at $3.214 on Monday, December 16th

December 17th, 2024
Everything You Need to Know About Electrifying Your Fleet with Sprague

December 16th, 2024
Prospects of Additional Sanctions Against Russia and Iran

December 16th, 2024