Spragueenergy

Monday, July 13th saw the front-month NYMEX Natural Gas contract open at $2.888, $0.052 below Friday’s closing price of $2.940. Trending lower to trade near $2.860 by 9:30AM, the contract marked a two-month intraday low of $2.847 nearly an hour later. Eyeing shifting fundamentals, both domestic and international, prices ascended through midday to reach an intraday high of $2....

Recap: The oil market on Monday rallied 9.4% higher following renewed military strikes between the U.S. and Iran over the weekend and news of a U.S. naval blockade of the Strait of Hormuz resuming on Tuesday, increasing concerns over crude oil flows through the strait. The crude market gapped higher from $73.16 to $73.69 after U.S. and Iranian strikes over th...

Friday, July 10th saw the front-month NYMEX Natural Gas contract open at $2.963, $0.049 below Thursday’s closing price of $3.012. Recording the intraday high of $2.969 ahead of 9:05AM, the contract continued the previous day’s trend as LNG maintenance curbed demand, renewables remained steady, and supply remained ample. Touching down to a fresh six-week intraday low of $2.891...

Recap: The crude market on Friday eased further following the gains seen earlier in the week as the market weighs the recent escalation in hostilities between the U.S. and Iran. The market posted the day’s trading range by mid-day, posting a high of $73.16 and quickly selling off to a low of $70.77 as U.S. President Donald Trump said that Iran had asked to co...

Thursday, July 9th saw the front-month NYMEX Natural Gas contract open at $3.196, $0.016 below Wednesday’s closing price of $3.212. Marking the intraday high of $3.202 within minutes of the opening bell, prices withdrew in the subsequent hour as bearish sentiment dominated the market. Pulling back further following the bearish-leaning injection, given the prior week’s heat wa...