Monday, February 24th saw the front-month NYMEX Natural Gas Futures Contract open at $1.855, five cents below Friday’s closing price of $1.905. Popping up to an intraday high of $1.867 by 9:10AM, prices soon trended lower and settled along $1.835. Despite the short-term frigid temperatures that are scheduled to arrive this weekend, over-supply continues to weigh on the market. Falling to an intraday low of $1.824 at 2:20PM, March closed lower on Monday at $1.827.
As of 8:45AM EST this morning in Globex, WTI Crude was down 11 cents; Natural Gas was up two cents; Heating Oil was down slightly; and Gasoline was down slightly.
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.