Aberration

Natural gas prices of $6/Mcf or less are not a short-term market aberration, but rather will be around for awhile, a Bentek Energy executive said Tuesday.

Proving that Thursday’s explosion to the upside was less of an aberration than many had expected, the rally in natural gas futures showed some staying power Friday as the April contract closed at $4.227, up 5.3 cents from Thursday and 29.5 cents higher than the previous week’s finish.

Indicating that Tuesday’s rebounds were something of a market aberration, prices reverted to falling at nearly all points Wednesday. The screen’s prior-day slide of 59.9 cents, the continued mildness of early January temperatures in most areas, and expectations of an unusually small storage withdrawal report were the primary influences in the renewed softening.