Expectations often differ from what actually comes to fruitionin the volatile arena of natural gas futures, and yesterday thatpoint was driven home when a bullish combination of slow-to-resumesupply outages met with a smaller-than-expected storage refill.Traders chased the market higher most of the day, and advances inthe evening computer trading Access session nearly matched theregular pit-trading gains. The November contract received thelargest boost, rocketing 16.8 cents to post a final trade of $2.515last night after briefly settling at $2.433 earlier in the day.
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For a change, fundamentals actually seemed to be behind pricemovements at the New York Mercantile Exchange on Monday. The spotApril contract gained 4.0 cents to $2.169 yesterday, as a blast ofwinter temperatures propelled cash market prices up 5-10 centsacross much of the country.