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Site title: Sprague: Our Energy Makes the Difference - Sprague Energy
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The Sprague Natural Gas MarketWatch will be on hiatus until Tuesday, June 30th.
Monday, June 22nd saw the front-month NYMEX Natural Gas contract open at $3.268, $0.035 above Thursday’s closing price of $3.233. Updated forecasts for increased cooling demand in the near term drove prices cautiously higher early on. Crossing midday at $3.278, the contract rose to an in...
Recap: The crude market traded lower, remaining within its recent trading range, amid progress in talks between the U.S. and Iran. The market traded higher during Friday’s shortened trading session due to the Juneteenth holiday and continued to trend higher on its reopening on Sunday evening, posting a high of $78.93. The market was supported amid reports tha...
Thursday, June 18th saw the front-month NYMEX Natural Gas contract open at $3.140, $0.005 below Wednesday’s closing price of $3.145. Recording the intraday low of $3.126 at 9:30AM, prices traded near $3.155 leading up to the weekly storage publication. Trending upward following the historically bearish injection, prices rose to cross midday at $3.229. Marking an intraday high...
Recap: The oil market traded lower on Thursday falling back to levels seen before the start of the Iran war following the signing of the U.S.-Iran interim deal to end the conflict on Wednesday. The 14 point memorandum of understanding beginning a 60-day negotiation period during which Iran will allow passage through the Strait of Hormuz. The deal calls for tr...
Recap: The oil market ended the session higher after the market weighed the uncertainty over the U.S.-Iran deal and concerns over the IEA’s warning of excess supply next year. The crude market traded mostly sideways in overnight trading before it sold off to a low of $74.59 following the release of an IEA report. In its latest report, the IEA said the oil mar...