Weather Whacks NYMEX Futures Price – Lost $0.25 Yesterday to $2.31

Yesterday, the NYMEX natural gas futures price for the "front month" (November) contract and the next contract in line to take over after today (the December contract) both dropped like a rock. The November contract (called the prompt month) dropped 25.1 cents to close at $2.309/MMBtu. The December contract, which becomes the prompt month tomorrow, dropped 22.9 cents to close at $2.863. Why the drop? It depends on who you ask, but the warm weather in the northeast seems to be one of the primary reasons.

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