Tag / Cent



Nymex Drop, Weekend Load Press Cash Downward

Shrinking demand due to warmer weather throughout the countryconspired with a 6.1-cent drop on the Nymex futures contractThursday to put an end to a small and short-lived boost from arelatively bullish storage report. Friday’s cash prices retreatedan average of 3-4 cents in most areas, erasing the small gains fromThursday’s trading, and bringing cash back to the level it hoveredaround most of the week.

March 22, 1999

Futures Rebound to Pull Even With Cash

After halting a three-day, 25-cent price slide Tuesday, naturalgas futures slowly began to build yesterday what bulls would liketo think is a base on which further gains will be added. Andalthough it is far from universal, that sentiment was echoed byothers who think that the confluence of relatively strong cashprices and rallying crude oil prices are supportive factors fornatural gas. The April contract finished 3.1 cents higher at $1.748in light trading.

March 18, 1999

March Futures Rally On Short-Covering

Market participants cited short-covering and relatively strongcash prices as the main reasons for a 7.4-cent gain turned in bythe March Nymex contract Tuesday. The contract flirted around theminor resistance level of $1.81 for most of the day before settlingslightly higher at $1.818.

February 3, 1999

Cash Markets Hold Ground, Inch Up on Forecasts

Cash prices either remained flat or rebounded a cent or two atmost delivery points across the board on Friday, mainly as resultof recent forecasts of above normal temperatures throughout thecountry, and the fact that the relatively low prices made for anattractive storage play opportunity. In addition to minor losses inthe Northeastern markets, Western and Rockies points, whichdemonstrated the most strength during the past week, alsoregistered declines of between 1-4 cents.

July 20, 1998

June Futures Barely Manage To Expire Above $2

Anyone who thought that the meager 0.1 cent gain the June Nymexcontract turned in on Tuesday would lead to a boring expiration daywas dead wrong. June managed to spew out one more major pricedecline on Wednesday, as the contract went off the board down 7.8cents for the day to settle at $2.017.

May 28, 1998

June Natural Gas Futures Take an 8-Cent Hit

The June Nymex contract spiraled 8.0 cents lower to $2.130 onWednesday, thanks to what an analyst said was traders unloadinglong positions ahead of the latest AGA storage report. That report,which came in at 78 Bcf, was slightly above the expected range of50-75 Bcf, and nearly double the 46 Bcf report from last year.

May 7, 1998

May Futures Prices Catapult Higher, Break $2.50

The May Nymex contract soared to unprecedented heights onTuesday, thanks to an 11.3 cent surge that left the contract at$2.522. May posted a high of $2.53, which is a source said is thetop of a long term technical trading formation. The fact that Maysettled so close to that high price is a bullish sign, he said, andfor that reason, he believes May has a good shot at moving to itsnext resistance level of $2.58 when trading resumes today.

April 1, 1998

Another Dull Day At the Merc

Volatility at the New York Mercantile Exchange has become so low the April contract was only able to trade within a narrow 3.5 centrange Tuesday, from $2.14-$2.175. The contract settled unchangedat $2.155.

March 18, 1998

Tax Relief Bill for Alternative Fuels Introduced

Rep. John E. Ensign (R-NV) proposed legislation late last weekthat would provide a 50-cent income tax credit for each gallonequivalent of natural gas, propane and methanol used in vehiclesplaced in service after Dec. 31, 1997. The tax credit will act as a”significant financial” incentive for fleet managers and others tostep up their use of clean, domestic fuels.

March 10, 1998

Futures Prices Fall, But Traders Look For Rebound

The April Nymex contract took a 5.1 cent hit to $2.241 onTuesday, as speculators continued to sell positions following thespot month’s inability to break above the $2.355 resistance levelon Monday, a source told GPI. Total volume was estimated at 41,490contracts.

March 4, 1998
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