March 27, 2019
Tuesday, March 26
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.759, slightly above Monday’s closing price of $2.755. Marking the intraday high of $2.766 within minutes of the session’s opening, markets lacked any major activity on Tuesday ahead of today’s contract settlement. Largely range bound over the past month, between $2.700 and $2.900, the contract is currently facing downward pressure as we get ready to exit the withdrawal season and are looking at above average temperatures over the next 7-10 days. Tallying an intraday low of $2.734 ahead of 2:00PM, the April contract closed lower on Tuesday at $2.740. The more heavily traded May contract closed lower as well at $2.751.
As of 8:45AM EST this morning in Globex, WTI Crude was down seven cents; Natural Gas was down three cents; Heating Oil was up slightly; and Gasoline was down two cents.
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