Tuesday, September 5th – saw the front-month NYMEX Natural Gas Futures Contracts open at $2.978, well below Friday’s closing price of $3.070. Posting significant losses since Friday’s close, bearish weather forecasts for much of the East and the unofficial end of summer have traders reevaluating market fundamentals. Touching the intraday low of $2.965 as markets opened and reaching up to the intraday high of $2.978 by 10:30AM, October narrowed its focus to seesaw along $2.975 for the balance of the day, closing lower on Tuesday at $2.972.
This morning in Globex, WTI Crude was up 51 cents; Natural Gas was unchanged; Heating Oil was up one cent; and, Gasoline was down three cents.
New York and New England basis values were higher for the coming winter season and lower for the following summer season. Additionally, cash prices were higher in both regions.
Natural Gas Glossary
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