October NYMEX Natural Gas Futures Contract Closed at $2.580 on Tuesday, September 10th

Tuesday, September 10th saw the front-month NYMEX Natural Gas Futures Contract open at $2.642, six cents above Monday’s closing price of $2.585.  Extending to reach another multi-month intraday high of $2.648 shortly after 9:00AM, the contract soon dwindled lower to stabilize near the $2.600 level.  Unable to sustain overnight momentum as markets have surged roughly forty cents in the past two and a half weeks, changing from oversold to marginally overbought, prices recovered from an intraday low of $2.571 at 10:20AM to trade within a penny of $2.585 for the majority of the day.  October closed lower on Tuesday at $2.580.

As of 8:50AM EST this morning in Globex, WTI Crude was up 60 cents; Natural Gas was down five cents; Heating Oil was up one cent; and Gasoline was up three cents. 

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