January NYMEX Natural Gas Futures Contract Closed at $2.214 on Monday, December 23rd

Monday, December 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.214, eleven cents below Friday’s closing price of $2.328.  Gapping lower over the weekend, following Friday’s short-covering induced rally, forecasts have proven bearish in the short-term as the contract is now using $2.20 as a support level.  Lacking any major activity throughout the session, prices tallied an intraday high of $2.238 shortly past midday and an intraday low of $2.209 at 2:20PM.  January closed lower on Monday at $2.214.

As of 8:00AM EST this morning in Globex, WTI Crude was up 24 cents; Natural Gas was down four cents; Heating Oil was up one cent; and Gasoline was up one cent. 
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