Seasonal Low? Futures Rally Ahead of Weekend

With a parade of storms coming off the coast of Africa at a frenetic pace, one theory is that natural gas futures traders — much like they did the previous Friday — took to covering their short positions ahead of the weekend to limit their risk (see Daily GPI, Sept. 7). However, another leading idea is that futures have hit a seasonal bottom and are ready to explore higher prices.

September 13, 2010

Futures Flounder Despite Call for Cooler Temperatures

In a frenetic trading session that had even the most seasonedtraders on their toes, gas futures gapped higher on the open onlyto crumble lower in two distinct selling waves yesterday. Incontrast to Wednesday session that saw almost uniform increases,Thursday’s price action for the 12-month strip was inconsistent,with losses in the out months outpacing the 7.7-cent declineregistered in the prompt month. The March contract finished at$6.158.

February 9, 2001

Futures, Options Vie for Traders’ Attention and Market Direction

Frenetic activity continued in the natural gas pit yesterday ina see-saw battle that produced two rallies, two dips and oneenormous 11.5-cent trading range. By the time the dust had settledand the orders were processed, the battle-weary August contractmanaged a 3.2-cent advance to settle at $2.574 on its penultimatetrading day.

July 28, 1999

Prices Mostly Lower in Subdued Trade

Following a frenetic week of April trading featuring near20-cent price swings and unusually high volume in both futures andcash markets, Monday’s market exhibited a calmness that remindedtraders April is a shoulder month. But, regardless of the smalllosses and lack of excitement generated yesterday, prices are stillat their highest levels since the December bidweek and as much as80 cents above year ago levels.

April 7, 1998