May NYMEX Natural Gas Futures Contract Closed at $2.653 on Monday, March 29th

Monday, March 29th – settlement day for the April contract—saw the front-month NYMEX Natural Gas Futures Contract open at $2.583, nearly three cents above Friday’s closing price of $2.557.  Bearish pressure drove the contract lower early on, stabilizing near $2.535 by 10:00AM.  Recording an intraday low of $2.530 at 11:10AM, prices then mounted a recovery effort as supply concerns related to the Suez Canal outweighed mild forecasts.  Tallying an intraday high of $2.607 ahead of closing, April settled higher on Monday at $2.586.  The more actively traded May contract followed a similar path, closing three cents higher at $2.653.

As of 7:00AM EST this morning in Globex, WTI Crude was down 41 cents; Natural Gas was up three; Heating Oil was down one cent; and Gasoline was down one cent.
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