December natural gas futures pushed north of $8 for a third consecutive session on Wednesday but failed to capture the gains once again. The contract finished out the session at $7.835, down 11.4 cents from Tuesday.
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Natural Gas Follows Petroleum Higher; Trader Sees Market Bottom
October natural gas futures staged a late-session rally Wednesday and finished at the high end of the day’s trading range. October rose 17.6 cents to settle at $5.805, and the November contract added 11.4 cents to finish at $6.690.
Futures Finish Lower, But Traders Keep a Close Eye on Tropics
After recording strong gains in August natural gas futures on Wednesday and Thursday, traders on Friday finished the week off with a 26-cent drop to $6.446, which is 21.6 cents below the previous Friday’s close.
Mackenzie Project Targeted by Green Groups
While oral testimony is finished, the barrage of protests against Canada’s northern natural gas pipeline project continues to pile up in written form on desks at the National Energy Board (NEB).
Mackenzie Project Mired in Polar Bears and Aboriginal Rights
While oral testimony is finished, the barrage of protests against Canada’s northern natural gas pipeline project continues to pile up in written form on desks at the National Energy Board (NEB).
Futures Near Almost Three-Year Lows; Settle at $4.475
The natural gas futures market began this week much like it finished off the last one as traders on Monday toyed with both two-year-old support and almost three-year lows. October natural gas, which expires Wednesday, pushed to a low of $4.420 Monday before settling at $4.475, down 15.2 cents on the day.
Futures Take a Price-Drop Breather, Settle 8.5 Cents Higher
Taking a break from its recent trend lower, August natural gas futures on Monday gapped higher to open and finished on a positive note. The prompt month closed out the day at $5.608, up 8.5 cents from Friday’s close.
Despite Weather Bulls/Supply Bears Impasse, Futures Push Higher
July natural gas futures on Friday finished last week with a steady climb, leaving some to wonder whether the previous week’s $5.750 low by the then-front month June contract might stand as a low for the move. July natural gas ended up reaching a high of $6.690 before closing at $6.623, up 17.5 cents on the day and 46.9 cents higher than the previous Friday’s close.
Lay, Prosecutor Spar over Alleged Insider Trading
Federal prosecutor John Hueston finished his cross-examination of Enron Corp. founder Kenneth Lay on Monday, focusing on Lay’s apparent ignorance in late 2001 of the company’s financial problems. And in a “gotcha” moment before passing the witness, Hueston told the jury that Lay’s wife sold 500,000 shares of Enron stock just hours before the official news was released that a merger between Dynegy Inc. and Enron had failed.
Exxon Mobil Tops 4Q Earnings Estimates with $10.7 Billion; Natgas Production Down
Exxon Mobil Corp. finished off 2005 with fourth quarter earnings of $10.7 billion ($1.71/share) contributing to a record $36 billion for the year, the company reported Monday. Earnings per share (EPS), excluding a $390 million special item, were $1.65 for the quarter, above the $1.44 EPS expected by analysts.