November 18, 2020
Tuesday, November 17
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.707, a penny above Monday’s closing price $2.697. Trading along either side of $2.700 through 11:00AM, tallying an intraday high of $2.717 at 9:50AM, the contract fell to an intraday low of $2.649 at 11:30AM. Deflated by bearish forecasts, traders now await colder temperatures or a short-covering rally if we are to see the contract reclaim the $3.00 level. The December contract closed lower on Tuesday at $2.692.
As of 7:15AM EST this morning in Globex, WTI Crude was up 77 cents; Natural Gas was up six cents; Heating Oil was up three cents; and Gasoline was up two cents.
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