December NYMEX Natural Gas Futures Contract Closed at $3.059 on Tuesday, November 3rd

Tuesday, November 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $3.130, eleven cents below Monday’s closing price $3.244.  Down roughly 7% from Friday’s near two-year high, warming weather forecasts and the absence of production disturbances in the Gulf have fueled this week’s sell off.  Declining steadily to reach an intraday low of $3.041 at midday, the contact traded along either side of $3.065 for the balance of the day.  The December contract closed lower on Tuesday at $3.059.

As of 8:45AM EST this morning in Globex, WTI Crude was up 94 cents; Natural Gas was down two cents; Heating Oil was up three cents; and Gasoline was up two cents.

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