March NYMEX Natural Gas Futures Contract Closed at $1.819 on Monday, February 3rd

Monday, February 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $1.854, roughly a penny above Friday’s closing price of $1.841.  Tallying an intraday high of $1.855 soon after markets opened, prices swooped downward to an intraday low of $1.814 by 11:10AM.  Supported early on by expectations for a mid-month spell of seasonal temperatures, momentum soon waned as $1.820 served as support for the majority of the day.  Lacking an extended period of heavy demand, and while supply and production remain healthy, traders will need a large catalyst to break from the current trend.  March closed lower on Monday at $1.819.

As of 8:45AM EST this morning in Globex, WTI Crude was up $1.18; Natural Gas was up two cents; Heating Oil was up three cents; and Gasoline was up two cents. 

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