May NYMEX Natural Gas Futures Contract Closed at $1.924 on Monday, April 20th

Monday, April 20th saw the front-month NYMEX Natural Gas Futures Contract open at $1.726, three cents below Friday’s closing price of $1.753.  Recording the intraday low of $1.724 just minutes after 9:00AM, prices then bounded higher to surpass $1.800 ahead of 10:00AM.  As the count of oil and gas rigs decline and production wanes, bullish traders were eager to support the rally late into the afternoon.  Crossing midday at $1.814, the contract surged higher to reach a near six-week intraday high of $1.937 at 2:20PM.  May finished roughly 10% higher on Monday, closing at $1.924.

As of 8:15AM EST this morning in Globex, WTI Crude was up $32.93; Natural Gas was down five cents; Heating Oil was down nine cents; and Gasoline was down nine cents.

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