Downside

Harnessing the momentum from Tuesday’s 15.3-cent plummet in December natural gas futures, traders continued to probe the downside Wednesday with mixed results. After starting the regular session with a low of $3.733, the prompt month contract reached a high of $3.800 just after 1 p.m. EDT before trimming lower to close at $3.749, down 3.2 cents from Tuesday’s regular session finish.

Natural gas futures traders continued to probe the downside on Wednesday but had significantly reined in the bearish enthusiasm that was prevalent on Tuesday. January futures reached a low of $4.193 before closing the regular session at $4.222, down 3.3 cents from Tuesday’s regular session close.

Natural gas futures took a break from the downside Wednesday as near-term weather forecasts got even chillier for a number of heavy gas-usage regions in the East. January natural gas futures recorded a high of $4.324 before closing out the regular session at $4.269, up 8.9 cents from Tuesday’s finish.

There is, it seems, a downside to the tremendous natural gas production results in the Marcellus Shale, according to energy consultant Bentek Energy LLC.

There is, it seems, a downside to the tremendous natural gas production results in the Marcellus Shale, according to energy consultant Bentek Energy LLC.

After working a little higher in early Thursday morning trade, the October natural gas futures contract returned to probe the downside after the Energy Information Administration (EIA) reported that 58 Bcf was injected for the week ending Sept. 3.

Natural gas futures traders on Wednesday continued to chip away at the downside as the August contract recorded a low of $4.303 before closing the day’s regular session at $4.306, down 4.8 cents from Tuesday’s finish.

Picking up right where they left off on Friday, natural gas futures traders on Monday continued to test the downside as the April contract recorded yet another new low for the move before closing out the regular session at $4.391, down just less than a penny from last week’s finish.

Picking up right where they left off on Friday, natural gas futures traders on Monday continued to test the downside as the April contract recorded yet another new low for the move before closing out the regular session at $4.391, down just less than a penny from last week’s finish.