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October NYMEX Natural Gas Futures Contract Closed at $2.510 on Wednesday, September 6th

September 7, 2023
Wednesday, September 6th saw the front-month NYMEX Natural Gas Futures Contract open at $2.542, four cents below Monday’s closing price of $2.582. Achieving the intraday high and low of the day within the opening half hour, $2.546 and $2.503 respectively, the contract traded with ... Read More

The Crude Market Traded Higher in Follow Through Strength Seen on Tuesday

September 7, 2023
Recap:   On Wednesday, the crude market traded higher in follow through strength seen on Tuesday in light of the Saudi and Russian decision to extend their output cuts until the end of the year. The market posted a low of $85.93 in overnight trading. However, the market bounced o ... Read More
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October NYMEX Natural Gas Futures Contract Closed at $2.582 on Tuesday, September 5th

September 6, 2023
Tuesday, September 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.603, sixteen cents below Friday’s closing price of $2.765. Knocked down over the long weekend, by forecasts for weakening cooling demand, the contract peaked at an intraday high of $2.622 at ... Read More

Saudi Arabia and Russia Extended Their Voluntary Supply Cuts by Three Months to the End of the Year

September 6, 2023
Recap:  The oil market rallied higher on Tuesday after Saudi Arabia and Russia extended their voluntary supply cuts by three months to the end of the year. The market traded mostly sideways during Monday’s shortened trading session in observance of the Labor Day holiday and poste ... Read More
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Economic Indicators Continued to Surprise Market Participants by the Resiliency of the U.S. Economy

September 5, 2023
Recap: The oil markets basically kept moving higher again on Friday, as economic indicators continued to surprise market participants by the resiliency of the U.S. economy. In addition growing market whispers that the Saudis are looking to sell additional shares in Saudi Aramco a ... Read More
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October NYMEX Natural Gas Futures Contract Closed at $2.765 on Friday, September 1st

September 5, 2023
Friday, September 1st saw the front-month NYMEX Natural Gas Futures Contract open at $2.819, five cents above Thursday’s closing price of $2.768. Climbing steadily early on to record an intraday high of $2.860 at 10:45AM, the contract then pulled back and proceeded to withdraw fo ... Read More

October NYMEX Natural Gas Futures Contract Closed at $2.768 on Thursday, August 31st

September 1, 2023
Thursday, August 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.793, nearly even to Wednesday’s closing price of $2.796. Losing ground to trade along $2.750 heading into 10:30AM, prices momentarily dropped to the intraday low of $2.708 as the weekly storag ... Read More

Potential Russian Agreement with OPEC+ to Extend Current Production Cuts into October

September 1, 2023
Recap: The NYMEX October WTI contract continued to surge higher today, settling up for the seventh consecutive trading session and recording its highest settlement since August 9th as it settled at $83.63, up $2.00 per barrel.  The news of the potential Russian agreement with OPE ... Read More
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October NYMEX Natural Gas Futures Contract Closed at $2.796 on Wednesday, August 30th

August 31, 2023
Wednesday, August 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.650, a penny below Tuesday’s closing price of $2.662. Following a brief dip to the intraday low of $2.647 in the day’s opening minutes, the contract was quick to trend higher. Stabilizing nea ... Read More

The Oil Market Continued to Trend Higher on Wednesday in Light of the Weekly Petroleum Stocks Report Showing Larger Than Expected Draws in Oil Stocks

August 31, 2023
Recap:  The oil market continued to trend higher on Wednesday in light of the weekly petroleum stocks report showing larger than expected draws in oil stocks. This followed the market’s outside trading day on Tuesday when the market traded higher on hopes that the Federal Reserve ... Read More
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