January NYMEX Natural Gas Futures Contract Closed at $2.406 on Monday, December 7th

Monday, December 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.417, sixteen cents below Friday’s closing price of $2.575.  Down 17% from last Monday’s opening, persistent and extended forecasts for above average temperatures have diminished hopes for a strong start to winter.  Trading within a tight band near $2.405 throughout the day, prices fell to a ten-week intraday low of $2.381 at 9:40AM, and an intraday high of $2.435 at 12:20PM.  The January contract closed lower on Monday at $2.406.

As of 6:40AM EST this morning in Globex, WTI Crude was down 18 cents; Natural Gas was up four cents; Heating Oil was down slightly; and Gasoline was unchanged.

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