July 21, 2020
Monday, July 20
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.695, two cents below Friday’s closing price of $1.718. Extending to an intraday high of $1.707 within minutes of the opening bell, prices soon plummeted lower, reaching a four-week intraday low of $1.605 at 11:30AM. Despite peak cooling demand, sentiment remains bearish as LNG export levels remain lower than normal and storage is plentiful.
Gaining traction as the afternoon drew on, the August contract closed lower on Monday at $1.641.
As of 7:45AM EST this morning in Globex, WTI Crude was up $1.33; Natural Gas was up one cent; Heating Oil was up four cents; and Gasoline was up five cents.
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