February 3, 2021
Tuesday, February 2
nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.987, fourteen cents above Monday’s closing price of $2.850. Touching a near three month intraday high of $2.995 soon after the opening bell, prices cascaded lower through the morning. Despite below average temperatures and the current snowstorm, ample supply and the fact that we’re trading the March contract made it hard to sustain the recent rally. Trading near $2.920 at noon, selling dominated the afternoon as prices fell to an intraday low of $2.833 at 2:20PM. March closed lower on Tuesday at $2.845.
As of 7:30AM EST this morning in Globex, WTI Crude was up 46 cents; Natural Gas was up slightly; Heating Oil was up one cent; and Gasoline was up three cents.
Natural Gas Glossary
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