May NYMEX Natural Gas Futures Contract Closed at $2.662 on Friday, March 29th

Friday, March 29th saw the front-month NYMEX Natural Gas Futures Contract open at $2.697, roughly a penny below Thursday’s closing price of $2.712.  Achieving the day’s intraday high of $2.700 within minutes of the opening bell, prices trended lower throughout the day.  Breaking down through the $2.70 resistance level, expectations for an earlier than normal injection season and mild temperatures have traders abandoning positions.  Marking an intraday low of $2.656 at 2:20PM, the May contract closed lower on Friday at $2.662.

As of 8:50AM EST this morning in Globex, WTI Crude was up 63 cents; Natural Gas was up three cents; Heating Oil was up two cents; and Gasoline was up one cent.  

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