February NYMEX Natural Gas Futures Contracts Closed at $2.967 on Tuesday, January 8th

Tuesday, January 8th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.999, nearly six cents above Monday’s closing price of $2.944.  The contract seesawed along either side of the $3.00 level throughout the day, while ultimately ending on the lower end of this range.  Shooting upward to the intraday high of $3.053 by 9:30AM, prices gradually declined in the subsequent two hours to mark the intraday low of $2.964.  Reclaiming $3.040 ahead 12:30PM, the contract traded lower for the balance of the day as seasonal temperatures in the Northeast are unable to compete with mild conditions covering the rest of the country, as February closed higher on Tuesday at $2.967.

This morning in Globex, WTI Crude was up $1.45; Natural Gas was down one cent; Heating Oil was up three cents; and Gasoline was up five cents.
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