June NYMEX Natural Gas Futures Contract Closed at $2.134 on Tuesday, May 5th

Market Insights
Natural Gas
May 6, 2020
Tuesday, May 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.087, nearly ten cents above Monday’s closing price of $1.993.  Following a pipeline explosion in Kentucky late Monday afternoon, markets were trading above the $2.15 level overnight.  Combined with bullish pressure from a drop in active natural gas rigs, prices rose from an intraday low of $2.082 soon after the opening bell and surged higher into the morning.  Reaching a near four-month intraday high of $2.162 ahead of midday, the contract stepped lower into the afternoon.  June closed lower on Tuesday at $2.134.

As of 8:15AM EST this morning in Globex, WTI Crude was down 95 cents; Natural Gas was down nine cents; Heating Oil was down two cents; and Gasoline was down one cent.

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