June 2, 2020
Monday, June 1
st saw the front-month NYMEX Natural Gas Futures Contract open at $1.773, eight cents below Friday’s closing price of $1.849. Following the previous session’s short-covering rally, the contract fell to an intraday low of $1.754 by 9:15AM. Mounting a choppy ascent that lasted well into the afternoon as prices tallied an intraday high of $1.824 at 1:20PM, traders are weighing the impact of the businesses slowly reopening, weather forecasts, and the steady decline of LNG exports. The July contract closed lower on Monday at $1.774.
As of 7:55AM EST this morning in Globex, WTI Crude was up 88 cents; Natural Gas was unchanged; Heating Oil was up five cents; and Gasoline was up four cents.
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