June NYMEX Natural Gas Futures Contract Closed at $1.826 on Monday, May 11th

Monday, May 11th saw the front-month NYMEX Natural Gas Futures Contract open at $1.851, three cents above Friday’s closing price of $1.823.  Ascending to an intraday high of $1.890 by 9:40AM, prices soon cascaded lower to cross $1.830 at midday and falling to an intraday low of $1.803 by 2:20PM.  Despite the number of active oil and gas rigs falling to an all-time low this week, the contract is now down roughly 15% from last week’s high of $2.162 as COVID-19 related demand-loss concerns persist.  The June contract closed nearly flat on Monday at $1.826.

As of 7:40AM EST this morning in Globex, WTI Crude was up $1.30; Natural Gas was unchanged; Heating Oil was up one cent; and Gasoline was up one cent.

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