December NYMEX Natural Gas Futures Contract Closed at $2.692 on Tuesday, November 17th

Tuesday, November 17th saw the front-month NYMEX Natural Gas Futures Contract open at $2.707, a penny above Monday’s closing price $2.697.  Trading along either side of $2.700 through 11:00AM, tallying an intraday high of $2.717 at 9:50AM, the contract fell to an intraday low of $2.649 at 11:30AM.  Deflated by bearish forecasts, traders now await colder temperatures or a short-covering rally if we are to see the contract reclaim the $3.00 level.  The December contract closed lower on Tuesday at $2.692.

As of 7:15AM EST this morning in Globex, WTI Crude was up 77 cents; Natural Gas was up six cents; Heating Oil was up three cents; and Gasoline was up two cents.

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