September NYMEX Natural Gas Futures Contracts Closed at $2.980 on Tuesday, August 21st

Tuesday, August 21st saw the front-month NYMEX Natural Gas Futures Contracts open at $2.971, three cents above Monday’s closing price of $2.941.  Responding to updated forecasts for increased demand to close out the month of August, the possibility of entering the heating season with storage levels sitting 20% below the five-year average has proven enough to direct markets near $3.000.  Losing momentum to record the intraday low of $2.953 at 10:00AM, bulls soon returned to drive prices to the intraday high of $2.985 by 12:40PM.  September closed higher on Tuesday at $2.980.

This morning in Globex, WTI Crude was up $1.17; Natural Gas was down one cent; Heating Oil was up three cents; and, Gasoline was up four cents.

Natural Gas Glossary
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