August 19, 2020
Tuesday, August 18
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.444, ten cents above Monday’s closing price of $2.339. With bullish sentiment continuing to support the overbought market, prices jumped to a fresh eight-month intraday high of $2.465 at 9:30AM. Retreating from this high to trade along $2.420 for the majority of the session, extreme heat conditions in the western part of the country have helped to sustain the current rally. September closed higher on Tuesday at $2.417.
As of 8:25AM EST this morning in Globex, WTI Crude was down 40 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down three cents.
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