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.
Natural Gas Glossary
Natural Gas Supplier
For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.