Natural gas futures traders essentially brushed off the bearish news Thursday morning from the Energy Information Administration (EIA) that 78 Bcf was injected into underground stores for the week ending Oct. 28. The injection was at the very top of industry estimates going into the report. December natural gas futures ended up adding 2.9 cents over Wednesday’s finish to close at $3.778.
Brushed
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Futures Make It a Five-Day Decline Friday, Settle $1.297 Lower Than Previous Week
Settling lower for the fifth consecutive regular session, March natural gas futures on Friday brushed off winter storm concerns for the weekend en route to carving out a new low for the move at $7.250. The prompt month finished the week at $7.316, down 16.3 cents from Thursday but an astounding $1.297 lower than the contract’s close in the prior week.
February 13, 2006
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