The futures market came under heavy selling pressure earlyThursday, adding to losses that began in the Wednesday eveningAccess session. However, the October contract was unable to broachsupport at $2.075, and buying enabled the prompt month to recoverslightly in the afternoon. October ended the day down 10.3 cents at$2.138.

Sources pointed to follow-through selling on the heels of ahefty 70 Bcf in injections reported by the AGA Wednesday as theimpetus for yesterday’s correction. “This market moved too high toofast. It was only a matter of time before cooled off,” a Houstonmarketer said.

However, for the second day in a row, the market reversed itsdirection in Access trading. Whereas the Wednesday evening sessionwas marked by a 6.6 cent loss, trading last night looked to recoupthose losses by trading 4.4 cents higher to $2.182. As of 4 PM ESTyesterday Tropical Storm Georges made hurricane status withsustained winds of 75 miles per hour. The storm is located 1,300miles east of the Lesser Antilles. Further strengthening isexpected in the next 24 hours.

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