Tuesday, October 27th saw the front-month NYMEX Natural Gas Futures Contract open at $3.020 just below Monday’s closing price $3.024. Falling to an intraday low of $2.986 soon after 9:00AM, prices ascended for the majority day to mark an intraday high of $3.091 at 1:50PM. Collapsing in the minutes ahead of 2:30PM, the November contract closed lower at $3.019. Set to assume the front-month position on Thursday, the more heavily traded December contract opened at $3.225, three cents below Monday’s closing price of $3.253. Recording an intraday low of $3.180 at 9:10AM, the contract rose confidently throughout the day to tally an intraday high of $3.336 at 1:40PM. Managing to hold onto these gains, the December contract closed higher on Tuesday at $3.311.
As of 8:35AM EST this morning in Globex, WTI Crude was down $1.81; Natural Gas was up one cent; Heating Oil was down three cents; and Gasoline was down four cents.
New York and New England basis values were unchanged for all seasons. Additionally, cash prices were lower in New York and New England.
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