August NYMEX Natural Gas Futures Contract Closed at $1.718 on Friday, July 17th

Friday, July 17th saw the front-month NYMEX Natural Gas Futures Contract open at $1.725, nearly even to Thursday’s closing price of $1.723.  Trading along either side of $1.735 for the initial two hours of the session, prices rose to an intraday high of $1.750 at 11:00AM.  Losing momentum near midday, the contract trended lower into the afternoon as summer temperatures proved insufficient as the current storage glut persists.  The August contract closed lower on Friday at $1.718, down 5% on the week.

As of 7:20AM EST this morning in Globex, WTI Crude was down 34 cents; Natural Gas was down three cents; Heating Oil was down slightly; and Gasoline was down one cent.

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