February NYMEX Natural Gas Futures Contracts Closed at $2.944 on Monday, January 7th

Monday, January 7th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.958, nearly nine cents below Friday’s closing price of $3.044.  Experiencing volatility early on, prices fell to the intraday low of $2.923 at 9:10AM only to jump four cents in the following twenty minutes.  Ascending to the intraday high of $2.994 by 11:10AM, bullish traders failed to hold this momentum as the contract arced lower towards midday.  Finding support near $2.940, February traded within the bounds of Friday’s high and low yesterday, which could signal uncertainty, as sustained seasonal temperatures are now probable for the back end of the month.  February closed lower on Monday at $2.944.

This morning in Globex, WTI Crude was up 82 cents; Natural Gas was up five cents; Heating Oil was up three cents; and Gasoline was up two cents.
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