September NYMEX Natural Gas Futures Contract Closed at $2.417 on Tuesday, August 18th

Tuesday, August 18th saw the front-month NYMEX Natural Gas Futures Contract open at $2.444, ten cents above Monday’s closing price of $2.339.  With bullish sentiment continuing to support the overbought market, prices jumped to a fresh eight-month intraday high of $2.465 at 9:30AM.  Retreating from this high to trade along $2.420 for the majority of the session, extreme heat conditions in the western part of the country have helped to sustain the current rally.  September closed higher on Tuesday at $2.417.

As of 8:25AM EST this morning in Globex, WTI Crude was down 40 cents; Natural Gas was down two cents; Heating Oil was down two cents; and Gasoline was down three cents.

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