Monday, October 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.388, nine cents above Friday’s closing price of $2.300. Falling to the intraday low of $2.378 within minutes of the opening bell, buyers quickly gained momentum to drive the contract as high as $2.447 by 10:00AM. Spurred on by the arrival of cooler temperatures and position squaring ahead of today’s contract expiration, a midday lull ultimately gave way to another bout of buying as prices rose to a near five-week intraday high of $2.455 at 2:20PM. November closed higher on Monday at $2.446. The more actively traded December contract closed nearly ten cents higher at $2.555.
As of 8:50AM EST this morning in Globex, WTI Crude was down 92 cents; Natural Gas was up 11 cents; Heating Oil was down two cents; and Gasoline was down one cent.
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