Fright

Scary Bearish Fundamentals Spook Futures Lower

Giving futures market bulls quite a fright on Halloween, December natural gas took out support in the $12.68-70 area in Sunday’s overnight Access trading session and kept the downward pressure in place during Monday’s regular session. December ended up settling at $12.205, down 85 cents from Friday’s close. Prompt-month futures haven’t settled this low since Sept. 16, when October natural gas closed at $11.144.

November 1, 2005