Natural gas futures traders on Thursday found themselves caught between opposing fundamentals as a bearish 115 Bcf storage draw report collided with expectations of a wave of lasting wintry cold Friday that was expected to bring heavy snowfalls from Omaha, NE, to Chicago, to Washington, DC, to New York City. The March contract ended up closing the day’s regular session at $5.416, three-tenths of a penny below Wednesday’s finish.
Collided
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‘Bearish’ Storage Draw, Cold Forecast Leave Futures Virtually Unchanged
Natural gas futures traders on Thursday found themselves caught between opposing fundamentals as a bearish 115 Bcf storage draw report collided with expectations of a wave of lasting wintry cold Friday that was expected to bring heavy snowfalls from Omaha, NE, to Chicago, to Washington, DC, to New York City. The March contract ended up closing the day’s regular session at $5.416, three-tenths of a penny below Wednesday’s finish.
February 5, 2010
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