Monday, January 28th saw the front-month NYMEX Natural Gas Futures Contracts open at $2.917, twenty-six cents below Friday’s closing price of $3.178. Returning the gains made during Friday’s session, traders seem to be overlooking the polar blast that’s currently sweeping through the Ohio Valley towards the Northeast, as mild temperatures will return as soon as this weekend. Trading cautiously higher near the $3.00 level through the morning, the contract tallied an intraday high of $2.983 shortly after midday. The afternoon was dominated by selling as prices fell to a four-month intraday low of $2.891, February closed lower on Monday at $2.911. The more heavily traded March contract closed twenty cents lower at $2.873.
This morning in Globex, WTI Crude was up 44 cents; Natural Gas was down three cents; Heating Oil was up three cents; and Gasoline was up one cent.
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