September 21, 2020
Friday, September 18
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.015 three cents below Thursday’s closing price of $2.042. Straddling $2.015 for the majority of the session, prices fell to a fresh six-week intraday low of $1.984 at 10:45AM and rose to an intraday high of $2.050 at 1:30PM. Fighting off additional losses following Thursday’s large storage injection and comfortable seasonal temperatures, which should temper demand, the contract seems to have found support at the $2.00 level for the time being. The October contract closed at $2.048 on Friday, down nearly 10% on the week.
As of 8:45AM EST this morning in Globex, WTI Crude was down $1.05; Natural Gas was down nine cents; Heating Oil was down three cents; and Gasoline was down five cents.
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