Spragueenergy

Recap: The oil market continued to trend higher on Wednesday as tensions in the Middle East widened and talks between the U.S. and Iran remained stalled. The market was well supported by the news that Iran launched ballistic missiles towards Kuwait and Bahrain and U.S. forces conducted strikes on Iran’s Qeshm Island. Iran’s Revolutionary Guards said it attack...

Wednesday, June 3rd saw the front-month NYMEX Natural Gas contract open at $3.187, $0.020 above Tuesday’s closing price of $3.167. Recording the intraday low of $3.143 at 9:15AM, the contract then mounted a steady ascent as traders took advantage of the recently diminished contract and forecasted cooling demand increase. Trading at $3.206 by midday and marking the intraday hi...

Tuesday, June 2nd saw the front-month NYMEX Natural Gas contract open at $3.126, $0.053 below Monday’s closing price of $3.179. Reaching an intraday low of $3.099 at 9:25AM and an intraday high of $3.177 at 10:20AM, the contract traded within a tight band near $3.155 into the afternoon. Weighing ongoing tensions with Iran and the Strait of Hormuz against healthy storage level...

Recap: The oil market on Tuesday posted an inside trading day as the market waited for news on whether there would be a deal to extend the current ceasefire between the U.S. and Iran. The crude market traded lower in overnight trading, posting a low of $90.12 as Iran reviewed a proposed agreement with the U.S. after President Donald Trump said negotiations we...

Monday, June 1st saw the front-month NYMEX Natural Gas contract open at $3.215, $0.085 below Friday’s closing price of $3.290. Recording the intraday high ($3.220) within minutes of the open for the second straight session, the contract was trading lower following last week’s rally as analysts assess the latest fundamentals. Forgoing the sympathy rally as oil markets rose onc...