July 14, 2020
Monday, July 13
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.775, three cents below Friday’s closing price of $1.805. Mounting a staggered ascent to reach an intraday high of $1.815 by 10:00AM, support soon faded as worries over COVID-19 related “demand destruction” outweighed optimism for increased usage due to summer cooling demand. Choppy trading ensued throughout the afternoon as the contract trended lower. Falling to an intraday low of $1.735 ahead of 2:30PM, August closed lower on Monday at $1.739.
As of 7:20AM EST this morning in Globex, WTI Crude was down 43 cents; Natural Gas was down two cents; Heating Oil was down one cent; and Gasoline was down three cents.
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