With Hurricane Florence spinning harmlessly off the East Coast and moderate temperatures engulfing large regions of the country, October natural gas futures on Monday continued to explore lower price levels. The prompt month put in a low for the day of $5.440 before settling at $5.670, down just half a penny on the day.
Engulfing
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‘Weather Trumps Storage’ as Futures Prices Reach Record Levels
With frigid cold engulfing large portions of the country and winter storms sweeping east, natural gas futures traders pushed the January contract on Thursday to a high of $15.100, a new all-time high for any prompt month, unseating the old record of $14.750 that was set by the November 2005 futures contract on Oct. 5. January natural gas ended up settling at a new all-time prompt month high settle Thursday at $14.994, up an incredible $1.294 for the day.
December 9, 2005
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