February NYMEX Natural Gas Futures Contracts Closed at $3.444 on Tuesday, January 23rd

Market Insights
Natural Gas
Basis
NYMEX
January 24, 2018
Tuesday, January 23rd saw the front-month NYMEX Natural Gas Futures Contracts open at $3.348, twelve cents above Monday’s closing price of $3.224.  Expectations for an above average storage withdrawal for the week ended January 19th saw overnight gains continue into the morning as the contract surpassed the $3.43 mark by 9:30AM.  Bolstered by weather-driven fundamentals in the Northeast, prices rallied to a one-year intraday high of $3.459 shortly past midday.  Managing to sustain this momentum, February traded sideways into the afternoon before closing higher on Tuesday at $3.444.

This morning in Globex, WTI Crude was up 16 cents; Natural Gas was up 14 cents; Heating Oil was up one cent; and, Gasoline was down one cent.
 
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