May 8, 2019
Tuesday, May 7
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.548, more than two cents above Monday’s closing price of $2.524. Trading within a tight range throughout the duration of the session, prices fell to an intraday low of $2.529 at 9:50AM and tallied an intraday high of $2.556 at 1:20PM. Yesterday’s recovery was an attempt to reclaim Monday’s losses. Lacking any significant direction from changes in market conditions, the $2.50 level should provide support in the coming weeks. June closed higher on Tuesday at $2.537.
As of 8:55 EST this morning in Globex, WTI Crude was up 14 cents; Natural Gas was up four cents; Heating Oil was down slightly; and Gasoline was down one cent.
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