September NYMEX Natural Gas Futures Contract Closed at $2.235 on Monday, August 19th

Monday, August 19th saw the front-month NYMEX Natural Gas Futures Contract open at $2.168, nearly five cents above Friday’s closing price of $2.123. Ascending from the intraday low as markets opened, prices rose to trade along $2.235 by 9:45AM as weather forecasts posted a bullish shift. Reaching the intraday high of $2.245 by 10:35AM, the contract traded largely sideways for the balance of the day. September closed higher on Monday at $2.235.

The EIA Natural Gas Storage Report published last Thursday showed a 6 BCF withdrawal from storage for the week ended August 9 – below the market estimate of a 1 BCF injection. Total working gas in storage was reported as 3,264 BCF; 6.8% above this time last year and 13.0% above the five-year average.

As of 6:25AM EST this morning in Globex, WTI Crude was up 12 cents; Natural Gas was down two cents; Heating Oil was flat; and Gasoline was down one cent.

                                                                                                    
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.