Tuesday, January 16th saw the front-month NYMEX Natural Gas Futures Contracts open at $3.054, nearly fifteen cents below Friday’s closing price of $3.200. Diminished from Friday’s gains due to profit taking and expectations for a return to average temperatures to close out the month, the contract defiantly rose as trading opened. Climbing to $3.134 at 9:30AM, prices then arced lower to mark the intraday low of $3.050 an hour later. Crossing midday near $3.080, the afternoon posted a significant ascent to reach the intraday high of $3.175 at 2:00PM. February proceeded to close lower on Tuesday at $3.129.
This morning in Globex, WTI Crude was down eight cents; Natural Gas was up six cents; Heating Oil was down slightly; and, Gasoline was up one cent.
New York and New England basis values were lower for all seasons. Additionally, cash prices were slightly in New York and New England.
Natural Gas Glossary
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