June 9, 2020
Monday, June 8
th saw the front-month NYMEX Natural Gas Futures Contract open at $1.768, a penny below Friday’s closing price of $1.782. Ascending to an intraday high of $1.800 by 9:30AM, prices proceeded to seesaw along $1.785 through the morning and into the afternoon. Some analysts have stated that the market is oversold, as many businesses are starting to reopen and demand will increase, but a string of +100 BCF injections to storage over the past few weeks have shown that there’s ample supply. July closed slightly higher on Monday at $1.789.
As of 8:20AM EST this morning in Globex, WTI Crude was down 24 cents; Natural Gas was up one cent; Heating Oil was up one cent; and Gasoline was up slightly.
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