March 30, 2022
Tuesday, March 29
th – settlement day for the April contract – saw the front-month NYMEX Natural Gas Futures Contract open at of $5.378, thirteen cents below Monday’s closing price of $5.508. Finding support early on, prices rose to the intraday high of $5.516 at 9:25AM. Trending lower soon thereafter as weather forecasts turn bearish, as seasonal temperatures are expected to return, the contract crossed midday near $5.390. Falling to an intraday low of $5.322 at 2:25PM, April settled lower on Tuesday at $5.336.
The more actively traded May contract opened at $5.430, eleven cents below Monday’s closing price of $5.538. Blazing a similar trail as its predecessor, the contract rose to an intraday high early on and ultimately succumbed to bearish fundamentals. May closed lower on Tuesday at $5.330.
As of 7:05AM EST this morning in Globex, WTI Crude was up $2.55; Natural Gas was up one cent; Heating Oil was up five cents; and Gasoline was up six cents.
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