November 5, 2019
Monday, November 4
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.817, ten cents above Friday’s closing price of $2.714. Gapping higher over the weekend upon forecasts for wintry temperatures to arrive, prices rose to a seven-month intraday high of $2.834 at 9:40AM. Also worth mentioning is the notable number of short futures positions held by traders, which could provide bullish support if colder forecasts come to fruition. Slipping to an intraday low of $2.790 at 10:20AM, the contract posted an upward trajectory for the majority of the remaining trading hours as December finished higher on Monday at $2.821.
As of 8:50AM EST this morning in Globex, WTI Crude was up 39 cents; Natural Gas was up six cents; Heating Oil was up one cent; and Gasoline was up one cent.
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