October 4, 2022
Monday, October 3
rd saw the November NYMEX Natural Gas Futures Contract open at $6.430, thirty-three cents below Friday’s closing price of $6.766. Reaching an intraday high of $6.524 within minutes of the opening bell, the contract floated downward until marking the intraday low of $6.305 nearly an hour later. Following the demand destruction from Hurricane Ian and comfortable shoulder month conditions, bulls are waiting patiently for their next cue to rally once again. Trading along the $6.40 level into the afternoon, November closed lower on Monday at $6.470.
As of 7:20AM EST this morning in Globex, WTI Crude was up 51 cents; Natural Gas was down nine cents; Heating Oil was up six cents; and Gasoline was up four cents.
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