February 28, 2023
Monday, February 27
th saw the front-month NYMEX Natural Gas Futures Contract open at $2.695 fifteen cents above Friday’s closing price of $2.548. Trending downward through the early morning hours to reach the intraday low of $2.612 at 10:55AM, the contract then regained its pre-session momentum to move higher. Supported by technical trading, possible short squeeze, and frigid forecasts, prices ascended to the intraday high of $2.739 ahead of 2:30PM. April closed higher on Monday at $2.731.
As of 7:45AM EST this morning in Globex, WTI Crude was up $1.34; Natural Gas was down 24 cents; Heating Oil was down slightly; and Gasoline was up three cents.
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