May NYMEX Natural Gas Futures Contract Closed at $1.640 on Tuesday, March 31st

Tuesday, March 31st saw the front-month NYMEX Natural Gas Futures Contract open at $1.717, nearly three cents above Monday’s closing price of $1.690.  Riding pre-session momentum to attain an intraday high of $1.729 soon after the opening bell, selling then took hold and directed prices lower.  Crossing midday near $1.660, seasonal temperatures and economic slowdown will likely prevent any substantial rally for the time being.  Falling to the intraday low of $1.636 at 2:20PM, May closed lower on Tuesday at $1.640.

As of 7:25AM EST this morning in Globex, WTI Crude was up 15 cents; Natural Gas was up one cents; Heating Oil was down three cents; and Gasoline was down five cents.

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