December 10, 2019
Monday, December 9
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.222, eleven cents below Friday’s closing price of $2.334. Collapsing over the weekend as forecasts turned bearish and with no significant cold in sight, prices traded along either side of $2.225 into the morning hours and slipped lower ahead of midday. The $2.200 level proved to be resistance as the contract bounced off this mark multiples time throughout the afternoon. Mounting a late-day rally, January rose above $2.230 to close lower on Monday at $2.232.
As of 8:55AM EST this morning in Globex, WTI Crude was down nine cents; Natural Gas was up two cents; Heating Oil was up slightly; and Gasoline was down slightly.
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