May NYMEX Natural Gas Futures Contract Closed at $2.699 on Tuesday, April 9th

Tuesday, April 9th saw the front-month NYMEX Natural Gas Futures Contract open at $2.701, slightly below Monday’s closing price of $2.708.  Falling to the intraday low of $2.680 within minutes of the opening bell, the contract rose to the $2.70 level by 10:30AM where it stabilized into the afternoon.  With increased production expected for 2019 offsetting worries about the current one- and five-year storage deficits, slightly below-average temperatures have underpinned prices for the short term.  May closed slightly lower on Tuesday at $2.699.

As of 8:45AM EST this morning in Globex, WTI Crude was up 33 cents; Natural Gas was up two cents; Heating Oil was up one cent; and Gasoline was up three cents.  
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