Gapping

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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