May 18, 2018

Thursday, May 17th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.794, two cents below Wednesday's closing price of $2.815. Tumbling to the intraday low of $2.780 by 9:10AM, prices soon recovered to trade near $2.795 through 10:30AM. Gaining upward momentum in the minutes following the reported above-average storage injection, the contract surpassed $2.830 by midday and tallied the intraday high of $2.862 ahead 2:20PM. June closed higher on Thursday at $2.859.

The EIA Natural Gas Storage Report published on Thursday showed a 106 BCF injection to storage for the week ended May 11th - above the market estimate of 104 BCF. Total working gas in storage was reported as 1,538 BCF; 34.8% below this time last year and 24.6% below the five-year average.

This morning in Globex, WTI Crude was down 12 cents; Natural Gas was down two cents; Heating Oil was up one cent; and, Gasoline was up one cent.

Natural Gas Glossary
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Sprague Resources LP published this content on 18 May 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 18 May 2018 13:13:06 UTC