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Natural Gas Mini Jun '24 (QGM24)

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Natural Gas Mini Futures Market News and Commentary

Nat-Gas Prices Soar on the Outlook for US Nat-Gas Supplies to Tighten

June Nymex natural gas (NGM24) on Friday closed up by +0.107 (+5.26%).

June nat-gas prices Friday climbed to a 3-month nearest-futures high and settled sharply higher.  Gas prices surged Friday after Cheniere Energy said it doesn't expect prolonged outages at its LNG plants this summer, which should boost US LNG exports and help tighten up the oversupplied US nat-gas market.  Gains in nat-gas prices accelerated Friday afternoon after Baker Hughes reported that the number of active US nat-gas drilling rigs in the week ending May 3 fell by -3 rigs to a 2-1/2 year low, which signals a reduction in US nat-gas production in the near term.

Nat gas prices on April 26 tumbled to a 3-3/4 year nearest-futures low (NGK24) due to ample US nat-gas supplies and mild spring temperatures.   Nat-gas prices have collapsed this year after an unusually mild winter curbed heating consumption for nat-gas and pushed inventories well above average.

Nat-gas prices had been under pressure a... Read more

Contract Specifications

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Contract
E-Mini Natural Gas
Contract Size
2,500 MMBtu (million British thermal units)
Tick Size
0.005 per MMBtu ($12.50 per contract)
Trading Hours
5:00p.m. - 4:00p.m. (Sun-Fri) (Settles 1:30p.m.) CST
Exchange
NYMEX
Point Value
$2,500
Margin/Maintenance
$761/692
First Notice Date
05/30/24 (25 days)
Expiration Date
05/28/24 (23 days)

Seasonal Chart

Natural Gas Mini Jun '24
Average Price Chart for 5 Prior Jun Contracts
Get Realtime - Quotes and Charts for Futures Traders. Learn More >>

Price Performance

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Period Period Low Period High Performance
1-Month
1.910 +12.15%
on 05/01/24
2.160 -0.83%
on 05/03/24
+0.075 (+3.63%)
since 04/03/24
3-Month
1.910 +12.15%
on 05/01/24
2.390 -10.38%
on 03/05/24
-0.189 (-8.11%)
since 02/02/24
52-Week
1.910 +12.15%
on 05/01/24
3.440 -37.73%
on 11/03/23
-1.079 (-33.50%)
since 05/03/23

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Barchart Trading Guide

The Barchart Trading Guide is a Buy Signal with a Weak Signal Strength.

Key Turning Points

3rd Resistance Point 2.348
2nd Resistance Point 2.254
1st Resistance Point 2.198
Last Price 2.142s
1st Support Level 2.048
2nd Support Level 1.954
3rd Support Level 1.898

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52-Week High 3.440
Fibonacci 61.8% 2.856
Fibonacci 50% 2.675
Fibonacci 38.2% 2.494
Last Price 2.142s
52-Week Low 1.910

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