February NYMEX Natural Gas Futures Contracts Closed at $2.940 on Monday, December 31st

Monday, December 31st saw the front-month NYMEX Natural Gas Futures Contracts open at $3.128, nearly eighteen cents below Friday’s closing price of $3.303.  Falling drastically on the last trading day of the year, the contract tested lows not seen since mid-September.  Lacking fundamental support from short-term weather forecasts, prices gradually declined on Monday until marking an intraday low of $2.930 late in the day, as February closed lower at $2.940.

The EIA Storage Report for the week ended December 28th, will be published on Friday, January 4th.

This morning in Globex, WTI Crude was down 84 cents; Natural Gas was up one cent; Heating Oil was down one cent; and Gasoline was down two cents.  Additionally, cash prices were higher in New York and lower in New England.
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