July 27, 2020
Friday, July 24th saw the front-month NYMEX Natural Gas Futures Contract open at $1.775, a penny below Thursday’s closing price of $1.785. Following Thursday’s short-covering rally, the contract found bullish support once again as prices rose to an intraday high of $1.818 at 11:10AM. Trading along either side of $1.795 for the balance of the day, traders are keeping an eye on two tropical storms that have formed in the Gulf of Mexico. The August contract closed higher on Friday at $1.808, up 5% on the week.
As of 8:50AM EST this morning in Globex, WTI Crude was up 26 cents; Natural Gas was down 3 cents; Heating Oil was up 1 cent; and Gasoline was down 1 cent.
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