August 11, 2020
Monday, August 10
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.212, two cents below Thursday’s closing price of $2.238. Ascending to an intraday high of $2.223 by 9:20AM, prices then gapped lower to reach $2.180 by 10:30AM and $2.160 by midday. Following last week’s rally that was supported by calls for increased LNG exports and sustained above average temperatures for much of the country, the contract fell to an intraday low of $2.118 at 12:30PM. Mind you, last Monday the contract was trading near $1.930. The September contract closed lower on Monday at $2.153.
As of 7:AM EST this morning in Globex, WTI Crude was up 75 cents; Natural Gas was up six cents; Heating Oil was up one cent; and Gasoline was up two cents.
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