Spragueenergy

Monday, May 11th saw the front-month NYMEX Natural Gas contract open at $2.834, $0.077 above Friday’s closing price of $2.757. Recording the intraday of $2.827 by 9:15AM, prices moved confidently higher throughout the session as above average temperatures moved in for much of the country. Additionally, continued geopolitical risks with Iran provided an additional underpinning...

Recap: On Monday, the oil market continued to trend higher within last Wednesday’s trading range, after U.S. President Donald Trump rejected Iran’s response to the U.S. peace proposal, leaving the Strait of Hormuz effectively closed with no end in sight to the war. On Sunday, Iran’s response to the U.S. proposal focused on ending the war on all fronts, includ...

Friday, May 8th saw the front-month NYMEX Natural Gas contract open at $2.796, $0.027 above Thursday’s closing price of $2.769. Reaching an intraday high of $2.845 by 9:15AM, prices then trended lower to cross midday at $2.802. Falling to an intraday low of $2.747 at 2:15PM, June closed lower on Friday at $2.757.

The EIA Natural Gas Storage Report published on Thurs...

Recap: The oil market on Friday continued to trade within Wednesday’s volatile trading range, ending the session higher as the market weighed the news of renewed U.S.-Iran hostilities against President Donald Trump’s statement that the ceasefire was still in effect. The crude market gapped higher on the opening from $97.99 to $98.25 and posted a high of $98.6...

Thursday, May 7th saw the front-month NYMEX Natural Gas contract open at $2.686, $0.044 below Wednesday’s closing price of $2.730. Recording the intraday low of $2.678 at 9:45AM, prices hovered near $2.695 leading up to the weekly storage publication. Surging to $2.780 following the bullish injection, the contract extended to achieve an intraday high of $2.813 at 12:15PM. Fig...