Friday, October 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $3.001, just below Thursday’s closing price $3.007. Peaking at an intraday high of $3.005 minutes after the opening bell, prices then trended lower to mark an intraday low of $2.957 at 10:10AM. Trading along either side of $2.970 for the balance of the day, as market fundamentals remain unchanged, the November contract closed lower on Friday at $2.971, up 7% on the week.
As of 8:40AM EST this morning in Globex, WTI Crude was down 95 cents; Natural Gas was up four cents; Heating Oil was down three cents; and Gasoline was down one cent.
New York and New England basis values were unchanged for all seasons. Additionally, cash prices were higher in New York and New England.
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