February 7, 2023
Monday, February 6
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.392 two cents below Friday’s closing price of $2.410. With arctic conditions giving way to mild temperatures covering key demand regions of the country, prices fell to an intraday low of $2.365 by 9:50AM. Chopping around the $2.400 level for the balance of the session, traders are awaiting the next bullish catalyst to mount a recovery. Tallying the intraday high of $2.466 ahead of 2:30PM, March closed higher on Monday at $2.457.
As of 6:25AM EST this morning in Globex, WTI Crude was up $1.35; Natural Gas was down one cent; Heating Oil was up six cents; and Gasoline was up six cents.
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