Freefall

Futures Inch Higher, but Market Fundamentals Remain Bleak

The freefall in natural gas futures prices of the last few weeks received a small reprieve on Friday after the February contract managed to eke out a 2.1-cent gain to close the week at $2.343. However, market bulls might as well cool their heels as Friday’s close marked a 32.7-cent decline from the previous week’s close.

January 23, 2012

Futures Gain a Nickel as Overall Direction Is Debated

Rebounding from Thursday’s 21.4-cent freefall following a larger-than-expected storage injection, May natural gas futures on Friday reached a high of $4.099 before closing the regular session at $4.039, up 5.4 cents from Thursday’s finish but 3.1 cents below last week’s close.

April 19, 2010

Futures Gain a Nickel as Overall Direction Is Debated

Rebounding from Thursday’s 21.4-cent freefall following a larger-than-expected storage injection, May natural gas futures on Friday reached a high of $4.099 before closing the regular session at $4.039, up 5.4 cents from Thursday’s finish but 3.1 cents below last week’s close.

April 19, 2010

Futures Hover Just North of $4.50 Ahead of Expiration

Traders on Tuesday were taking a breather from the recent freefall in natural gas futures as the November contract treaded water for a majority of the session before closing at $4.557, up 4.4 cents from Monday’s close.

October 28, 2009

Buffett’s MidAmerican to Acquire Constellation in $4.7B Deal

Just two days after worries over Constellation Energy Group’s relationship with bankrupt Lehman Brothers Holdings Inc. sparked a freefall in the electricity supplier Goliath’s stock price, it appears that the white knight to the rescue will be Berkshire Hathaway’s MidAmerican Energy Holdings Co., which has agreed to purchase all of the outstanding shares of Constellation Energy for $4.7 billion, or $26.50/share, cash. However, reports on Friday warned that a company was expected to come in with a competing bid.

September 22, 2008

Wall Street Woes, Ike Worries and Crude Weakness Create Wild NatGas Futures Ride

Reports of the Lehman Brothers implosion, the purchase of Merrill Lynch, the freefall of the Dow Index and petroleum contract values and concerns over Hurricane Ike damage and shut-ins all added up wide swings for natural gas futures on Monday. After pressing support at $7 in early trade, the prompt-month shot violently higher to a high of $7.840 just after noon EDT before evening out in the end at $7.374, up less than a penny from Friday’s close.

September 16, 2008

Expiration Day Futures Rally on Storage Injection, Record Crude

Stemming the freefall of the last two days, the expiring July natural gas futures contract — with some help from significant strength in crude futures — rallied Thursday morning as the Energy Information Administration (EIA) reported a 90 Bcf injection to storage for the week ended June 20. The contract recorded a high of $13.222 late in the regular session before going off of the board at $13.105, up 35.2 cents from Wednesday’s close. August futures, which now take over front-month contract classification, finished Thursday at $13.248, up 38.2 cents from Wednesday.

June 27, 2008

Futures Freefall as Hurricane Concerns Begin to Ebb

Futures came under heavy selling pressure early in the dayMonday, and the market never looked back as traders began discountto the threat of Hurricane Georges causing a major impact to gasproduction. “There was only one certainty you could bank on cominginto the market [Monday] morning. Momentum-whichever way the marketmoved at the open would dictate the direction for the rest of thetrading session,” a New York broker said. The October contract wasdealt the largest losses, slipping 15 cents to limp off the boardat $2.031.

September 29, 1998