March NYMEX Natural Gas Futures Contracts Closed at $2.558 on Friday, February 16th

Friday, February 16th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.540, four cents below Thursday’s closing price of $2.580.  Stumbling lower overnight despite Thursday’s bullish storage report, the contract ascended to the $2.570 level by 10:00AM.  Despite well below average storage levels, traders have seemingly chosen to focus on the above average temperatures that are expected to linger in the major gas burning regions for the balance of the season.  Leveling off for the balance of the day, March closed lower on Friday at $2.558.

Markets were closed on Monday, February 20th in observance of the President’s Day holiday.

This morning in Globex, WTI Crude was up 26 cents; Natural Gas was up seven cents; Heating Oil was up two cents; and, Gasoline was up one cent.

Natural Gas Glossary
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