April NYMEX Natural Gas Futures Contract Closed at $1.869 on Friday, March 13th

Friday, March 13th saw the front-month NYMEX Natural Gas Futures Contract open at $1.921, eight cents above Thursday’s closing price of $1.841.  Reaching an intraday high of $1.951 by 9:20AM, prices soon faltered and began a choppy descent to an intraday low of $1.852 at 11:40AM.  Hampered by mild temperatures and concerns of lower demand due to a coronavirus induced economic slowdown, the contract traded along either side of $1.875 for the balance of the day.  Closing up nearly 10% on the week, the April contract closed higher on Friday at $1.869.

As of 8:45AM EST this morning in Globex, WTI Crude was down $2.68; Natural Gas was down seven cents; Heating Oil was down 10 cents; and Gasoline was down 20 cents.

New York and New England basis values were unchanged for all seasons.  Additionally, cash prices were higher in New York and New England.

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