April futures scored another impressive gain Wednesday as traders attempted to factor in a late-season bout of cold weather that is expected to have little long-term impact on inventories. At the close April futures had posted a gain of 8.1 cents to $4.335 and May added 8.1 cents as well to $4.412. May crude oil gained 78 cents to $105.75/bbl.
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Back-and-Forth Trading Ahead of Potentially Bullish Storage Data
Summing up the ongoing bout of range-bound trading activity in the span of 48 hours, August natural gas futures virtually erased Tuesday’s gain of 8 cents with Wednesday’s decline of 7.7 cents as the prompt-month contract closed out Wednesday’s regular session at $4.513.
Futures Head Higher on Offshore/Onshore Drilling Uncertainties
A natural gas market eager to see whether last week’s breakout to the upside was warranted or a bout of overzealous exuberance received confirmation of the former on Monday as the July natural gas futures contract tested resistance at $5 for a second consecutive session before closing out the day at $4.916, up 11.9 cents from Friday’s regular session finish.
Futures Decline as Fundamentals Battle Continues
The natural gas futures market on Tuesday continued its recent bout of range-trading as the March contract dropped 15.8 cents from Friday’s finish to close at $5.310.
Futures Decline as Fundamentals Battle Continues
The natural gas futures market on Tuesday continued its recent bout of range-trading as the March contract dropped 15.8 cents from Friday’s finish to close at $5.310.
Soaring Northeast Quotes Lead Gains at Most Points
With the Midwest already several days into a bout of harsh winter weather and the Northeast about to rejoin it big-time Wednesday (along with the South to a lesser extent), it was hardly surprising to have prices rising at most points Tuesday. Northeast citygate spikes led the overall uprising as the region, after a brief respite Tuesday from a frigid and snowy weekend, was due to see lows plunge into the teens at most locations Wednesday (the Buffalo forecast was for zero).