March natural gas futures managed a modest gain Monday as traders cited market moves reflecting largely bookkeeping and rolling of positions from one month to the next. There was little in the way of new fundamental information, and traders suggested that short-term support areas were safe for the moment. At the close March natural gas was up 1.5 cents to $3.925 and April added 1.4 cents to $3.991. March crude oil continued its losing ways, posting a decline of 77 cents to $84.81/bbl.
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Articles from Bookkeeping
Sellers Await, Analyst Says; January Manages 3.8 Cent Gain
January natural gas futures rose Wednesday as traders looked for short-covering needed for year-end bookkeeping to keep prices firm in the near term. Longer-term traders, however, suggest that with confirmation of a mild latter half of December, traders currently undecided could enter the market vigorously on the short side. At the close of trading the January contract rose 3.8 cents to $7.179 and the February contract added 2.1 cents to $7.299.
December 20, 2007
Futures Draw to a Mixed Close; September Down Less Than a Cent
Natural gas futures closed to a mixed finish Tuesday, and much of the trading was bookkeeping as index funds rolled long positions from September to more distant months. The September contract eased less than a penny to $6.201, and the October contract gained 1.7 cents to $6.395.
August 8, 2007
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