Downmove

Stronger Dollar Pummels Natural Gas; September Sheds 32.3 Cents

A strengthening U.S. dollar and a weakening oil complex dealt the natural gas futures market a one-two combination Friday, dropping September to a new low of $8.215 for the downmove, which began after August futures peaked at $13.694 on July 2. The prompt month contract finished at $8.248, down 32.3 cents for the session and off a whopping $1.141 for the week. The October contract also took it on the chin, suffering a loss of 32.9 cents and $1.164 for the day and week, respectively, to finish at $8.330.

August 11, 2008