Tuesday, February 21st, saw the front-month NYMEX Natural Gas Futures Contracts open at $2.669, significantly below Friday’s closing price of $2.834. Following a six cent dip in the first hour of trading, the contract was able to recoup most of the morning’s losses to reach the $2.65 mark by 11:00AM. Consistent bouts of selling ensued to reach the intraday low of $2.556 at 1:40PM. A slow lift in prices brought March to close lower on Tuesday at $2.564.
This morning in Globex, WTI Crude was down 60 cents; Natural Gas was up slightly; Heating Oil was down two cents; and, Gasoline was down slightly.
New York basis values were lower for the current winter months and higher for the next summer season, whereas New England basis values were lower for all seasons. Additionally, cash prices were lower in both regions.
Natural Gas Glossary
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