After dropping lower and then spiking higher in its typical post-storage report theatrics, natural gas futures came back to near unchanged Thursday morning, prompting bulls and bears to turn to something other than storage for their next price clues. Without having to search too far, they found favorable medium and long-lead weather forecasts, which quickly translated into higher natural gas futures prices. August closed 10.2 cents higher for the session at $2.943.
Bests
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Bullish Weather Bests Storage as Market Mover; Technicals Remains Key
After dropping lower and then spiking higher in its typical post-storage report theatrics, natural gas futures came back to near unchanged Thursday morning, prompting bulls and bears to turn to something other than storage for their next price clues. Without having to search too far, they found favorable medium and long-lead weather forecasts, which quickly translated into higher natural gas futures prices. August closed 10.2 cents higher for the session at $2.943.
July 19, 2002
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