July NYMEX Natural Gas Futures Contract Closed at $2.454 on Friday, May 31st

Friday, May 31st saw the front-month NYMEX Natural Gas Futures Contract open at $2.545, nearly even to Thursday’s closing price of $2.547.  Falling from the intraday high of $2.548 within minutes of the opening bell, the previous session’s bearish injection continued to influence traders as prices plunged lower into the morning.  Finding momentary support near $2.485 by 10:30AM, the contract then posted a more composed descent into the afternoon.  Recording a five-week intraday low of $2.444 ahead of 2:30PM, July closed lower on Friday at $2.454.

As of 9:05AM EST this morning in Globex, WTI Crude was up 84 cents; Natural Gas was unchanged; Heating Oil was down seven cents; and Gasoline was down eight cents. 

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