Natural gas futures turned in a fairly calm regular session on Wednesday as at least one trader hypothesized that the market was sidetracked by the much-publicized Commodity Futures Trading Commission (CFTC) hearing on position limits in the energy futures arena. The prompt-month contract closed Wednesday at $4.042, up 4.1 cents from Tuesday’s finish.
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Futures Fall as Economic Concerns Trump Colder Weather Forecasts
February natural gas futures shot lower Tuesday as some market watchers hypothesized that the slumping U.S. economy upstaged colder-than-expected temps in near-term weather forecasts. The contract recorded a low of $8.080 before closing out Tuesday’s session at $8.196, down 15.7 cents from Monday’s finish.
January 16, 2008
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