May 17, 2018
Wednesday, May 16th
saw the front-month NYMEX Natural Gas Futures Contracts open at $2.818, two cents below Tuesday's closing price of $2.836. Falling to the intraday low of $2.809 soon after markets opened, prices rose over the following thirty minutes to record the intraday high of $2.829. Trading within a tight band for the balance of the day as markets weigh building storage against expectations for increased cooling demand, June closed lower on Wednesday at $2.815.
The EIA Natural Gas Storage Report is due out at 10:30AM today. The report is expected to show a 104 BCF injection to storage for the week ended May 11th. This compares to a 68 BCF injection at this time last year and a five-year average injection amount of 87 BCF.
This morning in Globex, WTI Crude was up 32 cents; Natural Gas was down three cents; Heating Oil was up one cent; and, Gasoline was up slightly.
Natural Gas Glossary
For access to Sprague's full Natural Gas Market Watch Report including commentary not posted here, please send your request to [email protected] 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. This document may not be reproduced or redistributed, in whole or in part, without the prior written permission of Sprague.
Sprague Resources LP published this content on 17 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 17 May 2018 13:38:09 UTC