December NYMEX Natural Gas Futures Contract Closed at $2.621 on Tuesday, November 12th

Tuesday, November 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.660, two cents above Monday’s closing price of $2.637.  Reaching a modest intraday high of $2.662 by 9:10AM, the contract then continued the downward trajectory that started after last Tuesday’s nine-month high of $2.889. Falling to the intraday low of $2.607 at 11:40AM as forecasts trend slightly warmer, a recovery effort that persisted into the afternoon ultimately gave way as December closed lower on Tuesday at $2.621.

As of 8:45AM EST this morning in Globex, WTI Crude was down 20 cents; Natural Gas was down three cents; Heating Oil was down two cents; and Gasoline was down slightly. 

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

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