Monday, August 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.044, nearly eight cents below Friday’s closing price of $2.121. Slipping to another three-year intraday low of $2.029 ahead of 9:30AM, bulls were quick to provide support as traders can expect the contract to test the $2.00 level this week. Rising assuredly to an intraday high of $2.109 by 10:50AM, prices then descended into the afternoon as forecasts have failed to motivate buyers. September closed lower on Monday at $2.070.
As of 8:55AM EST this morning in Globex, WTI Crude was up eight cents; Natural Gas was up four cents; Heating Oil was up one cent; and Gasoline was up one cent.
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