October NYMEX Natural Gas Futures Contract Closed at $8.249 on Monday, September 12th

Monday, September 12th saw the October NYMEX Natural Gas Futures Contract open at $7.895, ten cents below Friday’s closing price of $7.996. Ascending from the intraday low of $7.885 near 9:15AM, prices jumped to $8.250 by 9:45AM and an intraday high of $8.406 ahead of 11:00AM. Bullish support came from supply worries, despite falling cooling demand and steady production, as foreign LNG demand continues to plague the persistent five-year average storage deficit. Trading sideways near $8.280 for the balance of the afternoon, October closed higher on Monday at $8.249.

As of 7:10AM EST this morning in Globex, WTI Crude was up $1.34; Natural Gas was up nine cents; Heating Oil was up five cents; and Gasoline was up six cents.

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