Technical factors exert their influence on the natural gasmarket on a daily basis, confounding some traders while rewardingothers. Sometimes technicals are in agreement with underlyingfundamentals as was the case throughout the month of September,when supply tightness met with chart patterns and trend lines thatwere flashing buy signals. The end result: a rally that lifted theOctober contract 40 cents for the month. But, oftentimes thesefactors are not in concert, and trading thus far in October hasbeen just that. Whereas storm-related supply shut-ins supported themarket in September, October has been relatively free of supplydisruptions. That, coupled with U.S. storage inventories nearlyfull, has created an oversupply situation which has weighed onprices most of the month.
Influence
Articles from Influence
Cash Stubbornly Refuses to Follow Screen Down
For a change the cash market demonstrated some independence fromthe futures screen influence Wednesday. Even as futures followedTuesday’s downtick of nearly 6 cents with an even bigger diveyesterday, quotes at nearly all non-Western points either held flator managed to tack on up to 3-4 cents. This ran contrary to what anumber of traders had expected.
August 20, 1998
Hebert: FERC Not the ‘Happiness Commission’
If environmental groups and landowners somehow got the idea thatthrough their increased activities at FERC their influence wasgrowing, perhaps they should think again.
June 17, 1998
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