May 16, 2023
Monday, May 15
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.355, nine cents above Friday’s closing price of $2.266. Trading within a tight band along either side of $2.380 for the majority of the day, last week’s news of a decline in active drilling rigs provided enough momentum for the day’s bullish rise. Marking the intraday high of $2.384 at 11:25AM and the intraday low of $2.318 nearly an hour later, June closed higher on Monday at $2.375.
As of 6:20AM EST this morning in Globex, WTI Crude was down 14 cents; Natural Gas was down one cent; Heating Oil was unchanged; and Gasoline was down one cent.
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