March NYMEX Natural Gas Futures Contract Closed at $2.869 on Tuesday, February 23rd

Tuesday, February 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.889, five cents below Monday’s closing price of $2.953.  Achieving an intraday high of $2.950 at 9:20AM and again at 1:20PM, tagging an intraday low of $2.854 at 10:30AM along the way, traders are preparing for a monstrous pull from storage.  Additionally, the March contract is set to settle today as the April contract will assume the front-month.  March closed lower on Tuesday at $2.879.  The April contract opened at $2.869 on Tuesday and lower at $2.857.

As of 7:10AM EST this morning in Globex, WTI Crude was up 67 cents; Natural Gas was down three cents; Heating Oil was up one cent; and Gasoline was up two cents.

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