Exchange

Friday Doesn’t Yield Much at the Merc

It was pretty much a nothing day at the New York MercantileExchange on Friday, as the spot June contract could only move 2.2cents lower to settle the day at $2.178. Trading was limited to atight 4 cent range.

May 18, 1998

June Futures Move Back Above $2.20

Trading at the New York Mercantile Exchange returned to “morenormal” levels Monday following last weeks GasMart/Power tradeshow, a phenomenon one broker said was reflected in the 4.8 centgain (to $2.215) the June contract posted yesterday. “Cash marketprices were up a dime or so on the weather, and futures traderstook notice,” he said. However, he noted the strength was notenough to forge a settle above major resistance at $2.26, which ledhim to believe “the technical trading range remains.”

May 12, 1998

May Futures End Volatile Week By Posting Minuscule Gain

Following three days when trading volume at the New YorkMercantile Exchange averaged 117,518 contracts, the May contractgained a mere 1.4 cents to $2.342 amid a session when “only” 74,378contracts changed hands. Sources said much of the activity onFriday was simply position covering ahead of both the weekend andthe expiration of the May contract this Tuesday.

April 27, 1998

Heavy Buying Leads to Heavy Futures Gains

Technically, you could call Tuesday’s price action at the NewYork Mercantile Exchange a rally. Not only because the spot Maycontract rose 9.2 cents to $2.561, but also because the marketmoved on strong technical buying. “Funds got back in the market ina big way,” a trader succinctly surmised, referring to an estimatedvolume figure which came in at more than 100,000 contractsyesterday.

April 22, 1998

May Futures Set New Record, Then Record Loss

The May Nymex contract lost 2.1 cents to $2.501 Wednesday amidone of the most active non-expiration days in exchange history. Anestimated 93,649 contracts changed hands, many of which were tradedafter May fell back from its new all-time high trade of $2.56. “Mayhad pretty good resistance at $2.58, but I think funds were anxiousto take profits,” an analyst told GPI.

April 2, 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

Futures Price Follow Cash Quotes Higher

For a change, fundamentals actually seemed to be behind pricemovements at the New York Mercantile Exchange on Monday. The spotApril contract gained 4.0 cents to $2.169 yesterday, as a blast ofwinter temperatures propelled cash market prices up 5-10 centsacross much of the country.

March 10, 1998

March Futures Limp Toward The Finis

Expiration week is supposed to be about extreme volatility atthe New York Mercantile Exchange, but the March natural gascontract exhibited anything but that on Monday. The spot monthinched 1.9 cents lower to $2.179 yesterday, amid a session bound bya tight 4-cent trading range

February 24, 1998
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