May NYMEX Natural Gas Futures Contract Closed at $2.455 on Tuesday, April 23rd

Tuesday, April 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.517, slightly below Monday’s closing price of 2.524.  Plummeting more than 2% within the day’s opening hour of trading, prices found a bottom near $2.465 shortly after 10:00AM.  With no support from weather forecasts and storage levels expecting plentiful injections in the coming weeks, bears seem to be comfortably in control of the market.  Ticking marginally downward until reaching an intraday low of $2.451 at 2:20PM, May closed lower on Tuesday at $2.455.

As of 8:45AM EST this morning in Globex, WTI Crude was unchanged; Natural Gas was up two cents; Heating Oil was down one cent; and Gasoline was down two cents. 
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