June NYMEX Natural Gas Futures Contracts Closed at $2.754 on Wednesday, May 2nd

Wednesday, May 2nd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.784, two cents below Tuesday’s closing price of $2.802.  Reaching up to the intraday high of $2.786 as markets opened prices then began a gradual downward slog into the morning.  Trading along $2.755 by 11:30AM and falling to the intraday low of $2.745 an hour later, losses can be attributed to bearish fundamentals as demand wanes and production remains steady.  June closed lower on Wednesday at $2.754.

This morning in Globex, WTI Crude was down 27 cents; Natural Gas was unchanged; Heating Oil was down two cents; and, Gasoline was down one cent.  

Natural Gas Glossary
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