May NYMEX Natural Gas Futures Contract Closed at $2.580 on Friday, April 26th

On Friday, April 26th – settlement day for the May contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.520, slightly above Thursday’s closing price of $2.514.  Building upon the previous session’s momentum, prices surged upward to the $2.550 level by 9:30AM.  Supported by oversold conditions and slightly cooler than expected temperatures in the short-term, the contract posted a choppy ascent into the afternoon to tally a ten-day intraday high of $2.580 at 2:00PM.  The May contract settled higher on Friday at $2.566, while the more heavily traded June contract posted similar gains to close roughly three cents higher at $2.580.

As of 8:50AM EST this morning in Globex, WTI Crude was down 23 cents; Natural Gas was down two cents; Heating Oil was up slightly; and Gasoline was down two cents. 
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