Futures Climb on Small 59 Bcf Storage Injection

After gapping higher following the overnight Access trading session, August natural gas futures pushed even higher following the Energy Information Administration’s 10:30 a.m. EDT report that only 59 Bcf was injected into underground storage for the week ended July 14. After reaching a high of $6.230, prompt-month natural gas settled the day at $6.091, up 22.9 cents.

July 21, 2006

Futures Work Lower as Storage Glut Remains a Concern

After gapping lower following the overnight Access trading session to open Friday at $6.260, July natural gas traded within a slim 12-cent range as traders were quiet and action was scarce. After putting in a low of $6.170 in afternoon trading, the prompt month eased higher to close at $6.226, down 21.3 cents on the day and a whopping 95.9 cents lower than the previous Friday’s close.

June 26, 2006

Despite 42.7-Cent Climb, Futures Still Seen as Range-Bound

Shrugging off the sluggishness of the last couple of sessions, July natural gas on Wednesday hit the ground running after gapping higher to open. The prompt-month contract put in a high of $6.660 before closing at $6.590, up 42.7 cents on the day. Attention now turns to Thursday’s fresh storage news.

June 15, 2006

Futures Break Below $6 Again on Moderate Temperatures

After gapping lower in the overnight Nymex Access trading session, July natural gas opened Wednesday’s regular session at $6.150 and explored lower depths from there as traders absorbed the fact that summer heat is making false starts in a number of regions across the country. The prompt month broke below the psychological $6 level in early trading and bounced on either side of the number before recording a low of $5.940 and settling at $5.974, down 41.1 cents on the day. That brings the week’s losses so far to 64.9 cents.

June 8, 2006

Mild Weather Clashes with Bullish Technicals; Bears Win Round One

After gapping lower at the opening bell, the natural gas futures market clawed its way slowly higher throughout the trading session on a combination of technical short-covering and bargain hunting. April finished at $7.067, down 22.3 cents for the session but up more than 13 cents from its early-session low of $6.93.

March 28, 2006

Futures Threaten $15 Again as Cold Front Lingers

After gapping higher in Access trading to open Monday’s regular session at $14.900, January natural gas futures spent the rest of the afternoon between $14.470 and $14.930 before settling at $14.841, up 52.9 cents on the session.

December 13, 2005

Futures Retreat from Highs as Traders Monitor Winter Weather

After gapping lower to open Friday at $14.850, January natural gas climbed quickly in the first hour of trading, producing fear that the market was going to spike again like it did Thursday. After reaching a new all-time prompt month high of $15.200 at 10:44 a.m. EST, January backed down, putting to rest the possibility of back-to-back spikes. The front month ended up closing at $14.312, down 68.2 cents on the day but 38.1 cents higher than the previous Friday’s settle.

December 12, 2005

Futures Climb Higher on Cold Snap; Await Fresh Storage Data

Weather continues to be the driving force in the natural gas futures market as temperatures continue to fall. After gapping 20.1 cents higher to open at $11.540 Tuesday morning, December natural gas never penetrated beneath Monday’s $11.331 settle. The prompt month traded within a range from $11.350 to $11.650, before settling at $11.614, up 28.3 cents for the day.

November 23, 2005

Downward Momentum Carries Over to Tuesday as Futures Break Below $12

After gapping under $12 in the overnight Monday Access session to open Tuesday at $11.80, December natural gas spent the majority of the regular session trying to rebound. The prompt month got as high as $12.07 before collapsing again to close at $11.86, down 34.5 cents. Tuesday’s trade brings the week’s total losses to $1.195 after only two days of trading.

November 2, 2005

Futures Drop 35.7 Cents and Well Below $7 Mark

After gapping lower at the open further beneath the psychological $7 level, November natural gas futures spent Tuesday’s session exploring even lower. The prompt month bottomed out at $6.61 before settling at $6.636, down 35.7 cents on the day.

October 13, 2004
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