April NYMEX Natural Gas Futures Contracts Closed at $2.591 on Friday, March 23rd

Market Insights
Natural Gas
Basis
NYMEX
March 26, 2018
Friday, March 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $2.591, nearly three cents below Thursday’s closing price of $2.617.  Climbing from the one-month intraday low of $2.579 as markets opened, prices rose steadily to reach the intraday high of $2.614 at 10:40AM.  Stepping modestly lower over the balance of the day, April closed lower on Friday at $2.591.  Sinking below the $2.60 mark, which has served as a steadfast resistance level over the past year, seemed to be a sure sign that below-average temperatures will soon depart and the injection season will begin as demand wanes. 

This morning in Globex, WTI Crude was down 17 cents; Natural Gas was down one cent; Heating Oil was up one cent; and, Gasoline was unchanged.  
 
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