September NYMEX Natural Gas Futures Contract Closed at $2.070 on Monday, August 5th

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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For access to Sprague’s full Natural Gas Market Watch Report including commentary not posted here, please send your request to natgas@spragueenergy.com or call 1-855-466-2842.
 

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