August 26, 2020
Tuesday, August 25
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.539, two cents above Monday’s closing price of $2.513. Jumping to an intraday high of $2.550 within minutes of 9:00AM, the contract shed eight cents in the following half hour as uncertainty persists. Hurricane Laura is currently churning in the Gulf of Mexico and has raised production concerns as many platforms have been shut down. Trading within three cents of $2.480 for the duration of the day, prices fell to an intraday low of $2.451 as 11:45AM. September closed lower on Tuesday at $2.489. The October contract closed lower as well at $2.596.
As of 8:45AM EST this morning in Globex, WTI Crude was down 16 cents; Natural Gas was up five cents; Heating Oil was down one cent; and Gasoline was down one cent.
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