November 12, 2019
Monday, November 11
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.641, fifteen cents below Friday’s closing price of $2.789. Slipping lower over the weekend despite Thursday’s bullish storage injection and continued expectations for the arrival of winter-like temperatures, the contract traded along $2.655 through 10:30AM yesterday morning. Markets waded into overbought territory last week and we’re now seeing the pullback, as prices broke down to an intraday low of $2.618 by 12:40PM. Fending off any additional losses as the afternoon drew on, December closed lower on Monday at $2.637.
As of 8:40AM EST this morning in Globex, WTI Crude was down 22 cents; Natural Gas was up four cents; Heating Oil was down slightly; and Gasoline was up slightly.
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