December NYMEX Natural Gas Futures Contract Closed at $2.639 on Tuesday, October 29th

On Tuesday, October 29th – settlement day for the November contract – the front-month NYMEX Natural Gas Futures Contract opened at $2.559, ten cents above Monday’s closing price of $2.455.  Recovering from an initial dip to $2.540 as markets opened, prices rose steadily throughout the session until reaching a six-week intraday high of $2.640 at 2:00PM as short-term updated forecasts have turned colder.  Losing momentum in the minutes ahead of 2:30PM, November settled higher on Tuesday at $2.597.  Ready to take over the front-month position, the December contract closed nearly eight cents higher at $2.639.

As of 8:45AM EST this morning in Globex, WTI Crude was down 17 cents; Natural Gas was up three cents; Heating Oil was down slightly; and Gasoline was up two cents. 

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