The dam supporting natural gas futures prices finally burstThursday. After successfully fighting back numerous attempts tofall below major support at $2.11 the last several weeks, the JuneNymex contract succumbed to major selling by funds yesterday, andsettled the day down 10.2 cents to $2.067. Volume was extremelyheavy, with an estimated 93,072 contracts changing hands.
Fighting
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Chevron Fighting Florida Over Offshore Development
Chevron says it will appeal a recent preliminary ruling by theState of Florida against its development of the Destin Dome 56Unit, about 25 miles offshore from Pensacola, FL.
March 12, 1998
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