Friday, June 19th saw the front-month NYMEX Natural Gas Futures Contract open at $1.650, a penny above Thursday’s closing price of $ $1.638. Falling to an intraday low of $1.642 soon after the opening bell, prices jumped four cents in the following two hours to tag an intraday high of $1.684 ahead of 11:00AM. Trading within a tight band along $1.675 for the balance of the session, traders are bearish in regards to current market conditions as COVID fears continue to put a damper on demand. The July contract closed higher on Friday at $1.669, down nearly 4% on the week.
As of 7:45AM EST this morning in Globex, WTI Crude was down 25 cents; Natural Gas was up three cents; Heating Oil was up slightly; and Gasoline was down two cents.
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