February NYMEX Natural Gas Futures Contracts Closed at $3.224 on Monday, January 22nd

Monday, January 22nd saw the front-month NYMEX Natural Gas Futures Contracts open at $3.219, three cents above Friday’s closing price of $3.185.  After posting gains overnight as traders focused on what’s likely to be a healthy storage withdrawal for the week ending January 19th, prices quickly diminished as markets opened.  Sinking to the intraday low of $3.143 by 9:40AM, the contract then defied forecasts for mild temperatures in the coming six to ten days and rose into the afternoon.  Betting on lower than average storage levels by the end of the season, February marked the intraday high of $3.247 at 1:30PM and finished higher on the day at $3.224.

This morning in Globex, WTI Crude was down 60 cents; Natural Gas was up nine cents; Heating Oil was up one cent; and, Gasoline was up two cents.

Natural Gas Glossary
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