April 23, 2024
Monday, April 22
nd saw the front-month NYMEX Natural Gas Futures Contract open at $1.770, two cents above Friday’s closing price of $1.752. The contract found itself range-bound once again yesterday as competing fundamentals saw prices trade along $1.780 throughout the day. Marking the intraday high of $1.765 at 9:15AM and intraday high of $1.793 near midday and again ahead of 2:30PM, May closed higher on Monday at $1.791.
The EIA Natural Gas Storage Report published last Thursday showed a 50 BCF injection to storage for the week ended April 12 – below the market estimate 56 BCF. Total working gas in storage was reported as 2,333 BCF; 22.2% above this time last year and 36.4% above the five-year average.
As of 6:10AM EST this morning in Globex, WTI Crude was up three cents; Natural Gas was up one cent; Heating Oil was down one cent; 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.