There was no general consensus on natural gas prices on Monday as cash averages across the country picked up a few pennies or declined by a few pennies. The indecisiveness also carried over in the futures arena where the June contract declined for the fifth consecutive day, but only by 1.8 cents to $4.017.
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Futures Direction Remains Undecided; Natgas/Crude Relationship on the Rocks
Traders really summed up the indecisiveness of market sentiment on Tuesday as they pushed the May natural gas futures contract to a high of $7.690 and a low of $7.490 before settling almost smack dab in the middle at $7.598, up 3.6 cents on the day. The day’s action also showed just how fickle the crude/natural gas futures relationship can be as crude plummeted, giving back almost all of its gains from Monday.
April 25, 2007
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