Crude, Cold Weather Give Nat Gas Futures Another Boost

Buoyed by a supportive short-term weather outlook and another impressive advance in the nearby crude oil market, natural gas futures surged Monday on a combination of speculative short-covering and commercial trader buying.

March 16, 2004

Despite Impressive Advance, Traders Skeptical of Bullish Outlook

In a variation of the springtime weather idiom, it was the April futures contract that came in like a lion this year. Following March’s lamb-like behavior as prompt contract, trading roared back to life Thursday and Friday as buyers bid up April futures on the bullish combination of storage and technicals.

March 1, 2004

Rescinding Early Advance, Bears Make It Two in a Row

After gapping higher at the opening bell, the natural gas futures market spent Tuesday’s trading session in a methodical downward slog. With that the February contract completed its penultimate trading session at $5.716, down 1.1 cents for the day and 16.4 cents off its early-session high. The contract is set to expire at 2:30 p.m. EST Wednesday.

January 28, 2004

Futures Correct Lower, But Traders Fear More Softness Still to Come

Ending a seven-session price advance, natural gas futures dropped lower at the opening bell Monday as traders alleviated overbought conditions and cashed in on a portion of recent gains. After that initial wave of weakness, however, the market steadied itself, giving buyers the opportunity to chip away at the deficit for the remainder of the day.

October 14, 2003

Futures Advance 5% on Fund Buying and Bullish Technicals

In reaction to mounting bullish pressure and in agreement with its seasonal tendency to rally in October, the natural gas futures market soared Tuesday amid waves of managed fund short-covering.

October 8, 2003

PSI Seeks Advance Indiana OK on Possible Power Asset Buys

PSI Energy has filed an application at the Indiana Utility Regulatory Commission (IURC) for a generic certificate of need that would allow the Cinergy subsidiary to purchase unidentified generating assets “within certain approved parameters,” a PSI spokesperson told NGI last Tuesday.

August 11, 2003

Bulls Continue to Buck the Trend; Futures Advance 7 Cents

Natural gas futures ended higher for the second session in a row Wednesday as buyers continued to take advantage of the lowest prices thus far this year. The October contract received the biggest boost, gaining 7.1 cents to close at $4.788. The prompt September contract followed suit, advancing 6.8 cents to finish at $4.745. At 40,761 estimated volume was light, an indication that traders are waiting on the sidelines ahead of Thursday’s storage report.

August 7, 2003

Futures Advance 40 Cents as Technicals and Fundamentals in Bullish Agreement

Adding to strength experienced in the overnight access trading session, natural gas futures galloped higher Monday as short-covering made a indelible imprint on a market otherwise devoid of much trading liquidity. After gapping higher at the opening bell, the prompt June contract received a boost by supportive technical features as well as reports of nuclear unit problems. It closed at $5.689, up 43.4 cents for the session.

May 6, 2003

Bargain Buying Lifts Futures; Market Awaits Storage Data

Adding to Tuesday’s modest price advance, natural gas futures surged higher Wednesday as early morning commercial buying triggered local short-covering at midday. Buying was almost uniform across the 12-month strip, suggesting hedging activity by end-users who may have missed their opportunity the last time prices were near $5.25. June futures closed at $5.385, up 14.9 cents for the session. The 12-month strip, meanwhile, outperformed the prompt month, advancing 15.1 cents to $5.446.

May 1, 2003

Amid Muddled Technicals and Fundamentals, Futures Manage Modest Advance

After initially ducking lower to equal Monday’s $5.16 low, the June natural gas futures contract struggled higher in featureless trading on its first session as prompt contract Tuesday. It closed at $5.236, up 4.6 cents for the session and 7.6 cents off its early low. Estimated volume was light, with 69,391 contracts changing hands.

April 30, 2003
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