March NYMEX Natural Gas Futures Contract Closed at $3.129 on Tuesday, February 16th

Market Insights
Natural Gas
February 17, 2021
Tuesday, February 16th saw the front-month NYMEX Natural Gas Futures Contract open at $3.128, twenty-one cents above Friday’s closing price of $2.912.  Surging to a three-month intraday high of $3.214 soon after the opening bell, the winter storm plaguing the Midwest has caused spot prices to spike.  While spot prices are influencing the futures contract, traders are also keeping an eye on the latest forecasts for the coming weeks.  Whipsawing through midday to touch an intraday low of $3.012 at 11:20AM, prices recovered aggressively as the session drew on.  The March contract closed higher on Tuesday at $3.129.

As of 7:00AM EST this morning in Globex, WTI Crude was up 63 cents; Natural Gas was down four cents; Heating Oil was up two cents; and Gasoline was up three cents.

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