After dipping down in overnight Access trading, September natural gas futures continued the plunge in Wednesday’s regular session, reaching a low of $5.64 before rebounding slightly higher to settle at $5.661, down 15.5 cents on the day.
Awaken
Articles from Awaken
Record-Breaking Storage Refill Fails to Awaken Bears
For the second week in a row, natural gas futures shrugged off an undeniably bearish storage report. After dipping to $6.25 in the moments following the report of a record-setting 114 Bcf weekly storage injection, the July contract rebounded Thursday afternoon amid waves of short covering and speculative buying. The contract notched its highest close ever at $6.521, up 14.6 cents for the session and within striking distance of Wednesday’s $6.61 top.
June 6, 2003
Revised Forecasts Awaken Futures Bears from Brief Hibernation
It was a popular belief heading into last weekend that the only thing that could subvert a gap-higher open in the natural gas pit on Monday was a substantial revision in the short- and intermediate-term weather forecasts. The potential last week of Old Man Winter making one last appearance across much of the Plains, Midwest and Northeast was too scintillating for traders not to buy into it — even though the cold weather was still a week or more away.
February 26, 2002
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