August NYMEX Natural Gas Futures Contracts Closed at $2.788 on Tuesday, July 10th

Market Insights
Natural Gas
July 11, 2018
Tuesday, July 10th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.818, a penny below Friday’s closing price of $2.828.  A brief step up to the intraday high of $2.826 at 9:15AM was the only positive momentum Tuesday had to offer as traders turned bearish on weather and short-term demand.  While production and consumption have remained steady, another heatwave or below average injection may be the catalyst needed to turn things around.  Hovering just above the $2.80 mark near midday, August slipped to a two-month intraday low of $2.784 before closing lower on Tuesday at $2.788.

This morning in Globex, WTI Crude was down 78 cents; Natural Gas was up two cents; Heating Oil was down three cents; and, Gasoline was down two cents. 
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