On Tuesday, May 29th – settlement day for the June Contract – the front-month NYMEX Natural Gas Futures Contracts opened at $2.878, roughly six cents below Friday’s closing price of $2.939. Trailing lower in pre-market trading as markets were closed Monday in observance of Memorial Day, the contract had been significantly diminished from Friday’s intraday high of $2.964. Falling further into the morning to reach an intraday low of $2.838, bearish short-term weather reports and overbought sentiment have sapped last week’s momentum. Posting a staggered ascent into the afternoon, June settled lower on Tuesday at $2.875. The more heavily traded July contract closed nearly six cents lower at $2.903.
This morning in Globex, WTI Crude was up 48 cents; Natural Gas was down one cent; Heating Oil was up two cents; and, Gasoline was up two cents.
Natural Gas Glossary
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