February NYMEX Natural Gas Futures Contracts Closed at $3.040 on Tuesday, January 22nd

Tuesday, January 22nd saw the front-month NYMEX Natural Gas Futures Contracts open at $3.184, nearly thirty cents below Friday’s closing price of $3.482.  With a temporary thaw giving bears a chance to move in over the weekend, traders are still gauging whether or not the latest arctic forecasts will come to fruition.  Marking the intraday high of $3.221 shortly after markets opened, the contract moved steadily lower throughout the day, marking an intraday low of $3.026 ahead of 2:30PM.  February closed lower on Tuesday at $3.040.

This morning in Globex, WTI Crude was up 23 cents; Natural Gas was up eight cents; Heating Oil was unchanged; and Gasoline was down slightly.  Additionally, cash prices were lower in New York and New England.
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