November NYMEX Natural Gas Futures Contract Closed at $2.438 on Friday, October 2nd

Friday, October 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.426, ten cents below Thursday’s closing price of $2.527.  Battling back from declines of $0.10 or more in the past two trading days, Friday displayed much of the same resilience as prices marked an intraday low of $2.414 by 9:10AM only to surge to an intraday high of $2.551 by 10:30AM.  Natural Gas, like the rest of the market, took a hit Friday morning in response to the President’s positive COVID-19 test results, but the takeaway here should be that the front-month contract for the time being is holding on to the $2.450 level.  The November contract closed lower on Friday at $2.438.

As of 8:55AM EST this morning in Globex, WTI Crude was $1.39; Natural Gas was up nine cents; Heating Oil was up four cents; and Gasoline was up five cents.

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