May NYMEX Natural Gas Futures Contract Closed at $1.640 on Tuesday, March 31st

Tuesday, March 31st saw the front-month NYMEX Natural Gas Futures Contract open at $1.717, nearly three cents above Monday’s closing price of $1.690.  Riding pre-session momentum to attain an intraday high of $1.729 soon after the opening bell, selling then took hold and directed prices lower.  Crossing midday near $1.660, seasonal temperatures and economic slowdown will likely prevent any substantial rally for the time being.  Falling to the intraday low of $1.636 at 2:20PM, May closed lower on Tuesday at $1.640.

As of 7:25AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was up one cents; Heating Oil was down three cents; and Gasoline was down five cents.

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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.