March NYMEX Natural Gas Futures Contracts Closed at $2.734 on Friday, February 1st

Friday, February 1st saw the front-month NYMEX Natural Gas Futures Contracts open at $2.787, nearly three cents below Thursday’s closing price of $2.814.  Testing lows not seen since last summer, prices remained steady through 11:00AM when modest buying helped to record an intraday high of $2.807.  Short-term mild temperatures and Thursday’s bearish storage report have ruined any plans for a jump towards the $3.00 level, but come mid-month we may see another opportunity.  Falling through the afternoon to reach the intraday low of $2.730, March closed lower on Friday at $2.734.

This morning in Globex, WTI Crude was down 72 cents; Natural Gas was down six cents; Heating Oil was down one cent; and Gasoline was up one cent.
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