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June NYMEX Natural Gas Futures Contract Closed at $2.101 on Thursday, May 4th

May 5, 2023
Thursday, May 4th saw the front-month NYMEX Natural Gas Futures Contract open at $2.149, two cents below Wednesday’s closing price of $2.170. Achieving the intraday high of $2.163 within minutes of the open, prices stepped down to the $$2.120 level ahead of the weekly storage pub ... Read More

The Oil Market on Thursday Traded Higher After Reversing its Previous Losses

May 5, 2023
Recap:  The oil market on Thursday traded higher after reversing its previous losses in what appeared to be a technical rebound. On the opening, the market sold off sharply by almost $5 to a low of $63.64, the lowest level seen since December 2021. The mini-flash crash may have b ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.170 on Wednesday, May 3rd

May 4, 2023
Wednesday, May 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.181, three cents below Tuesday’s closing price of $2.214. Reaching the intraday high of $2.192 by 9:15AM, comfortable temperatures in the short-term forecast have left the contract directionless. ... Read More

Traders Remained Concerned About the Economy as the Fed Raised Interest Rates

May 4, 2023
Recap:  On Wednesday, the oil market extended its sharp losses seen on Tuesday, as traders remained concerned about the economy as the Fed raised interest rates. In overnight trading, the crude market traded sideways and posted a high of $71.79. However, the market began its sell ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.214 on Tuesday, May 2nd

May 3, 2023
Tuesday, May 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.257, six cents below Monday’s closing price of $2.318. Recording the intraday high of $2.262 within minutes of the open, the contract posted a gradual pull back throughout the day as weather foreca ... Read More

The Oil Market Sold Off Sharply on Tuesday on Concerns Over the Economy

May 3, 2023
Recap:  The oil market sold off sharply on Tuesday on concerns over the economy amid discussions on ways to avoid a debt default and ahead of the Fed’s expected U.S. rate hike on Wednesday. The oil complex and the stocks indexes fell as the cost of insuring against a U.S. debt de ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.318 on Monday, May 1st

May 2, 2023
Monday, May 1st saw the front-month NYMEX Natural Gas Futures Contract open at $2.363, five cents below Friday’s closing price of $2.410. Recording the intraday high of $2.394 by 9:15AM, the contract began a gradual descent that would span the duration of the session as mild weat ... Read More

Traders Weighed the Impact of the Federal Reserve Potentially Raising Interest Rates

May 2, 2023
Recap:  The oil market posted an inside trading day on Monday as traders weighed the impact of the Federal Reserve potentially raising interest rates and weaker Chinese manufacturing data against the OPEC+ supply cuts taking effect this month. The market opened 12 cents lower and ... Read More
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June NYMEX Natural Gas Futures Contract Closed at $2.410 on Friday, April 28th

May 1, 2023
Friday, April 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.465, twenty-one cents above Thursday’s closing price of $2.355. Spiking to a six-week intraday high of $2.503 within minutes of the open, as reports came in of a force majeure even on the Columbi ... Read More

U.S. Economic Data and Uncertainty Over Further Interest Rate Increases Weighed on the Demand Outlook

May 1, 2023
Recap:  The oil market rallied higher on Friday and settled in positive territory, while it posted a weekly decline for a second consecutive week after U.S. economic data and uncertainty over further interest rate increases weighed on the demand outlook. The market retraced some ... Read More
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