December NYMEX Natural Gas Futures Contract Closed at $3.244 on Monday, November 2nd

Monday, November 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $3.245, eleven cents below Friday’s closing price $3.354.  Following Friday’s near two-year intraday high, the contract pulled back yesterday morning likely to do warming short-term forecasts.  Reaching an intraday high of $3.271 at 10:15AM, prices fell to the intraday low of $3.214 nearly thirty minutes later.  The December contract closed lower on Monday at $3.244.

As of 8:45AM EST this morning in Globex, WTI Crude was up $1.31; Natural Gas was down 11 cents; Heating Oil was up two cents; and Gasoline was up three cents.

New York and New England basis values were lower for the current winter months and unchanged for the following summer season.  Additionally, cash prices were lower in New York and higher in New England.

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