October NYMEX Natural Gas Futures Contract Closed at $2.630 on Monday, August 31st

Monday, August 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.577, eight cents below Friday’s closing price of $2.657.  Selling dominated throughout the session’s opening hour to reach an intraday low of $2.497, bullish pressure seemed to have evaporated as the Gulf natural gas infrastructure was left largely untouched by hurricane Laura.  Roaring back into the afternoon the contract surged to an intraday high of $2.653 at 2:10PM as below-average temperatures come to the Midwest and the possibility grows for more tropical storms, the October contract closed slightly lower on Monday at $2.630.

As of 8:30AM EST this morning in Globex, WTI Crude was up 47 cents; Natural Gas was down three cents; Heating Oil was up one cent; and Gasoline was up two cents.

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