February NYMEX Natural Gas Futures Contract Closed at $2.162 on Tuesday, January 7th

Tuesday, January 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.139, just above Monday’s closing price of $2.135.  Shedding two cents early on, the contract maintained a steady climb throughout the day to cross midday near $2.157 and reach an intraday high of $2.178 at 1:10PM.  Possibly fueled by a short-covering rally, weather continues to be unsupportive as Bespoke Weather Services stated that January is “on pace to rank in the top five warmest Januarys going back to at least 1981.”  February closed higher on Tuesday at $2.162.

As of 8:40AM EST this morning in Globex, WTI Crude was down $1.03; Natural Gas was up one cent; Heating Oil was down one cent; and Gasoline down two cents. 

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