Buoyed by weather forecasts, storage jitters, and strength in the cash market, natural gas futures erupted higher Wednesday as new buying competed with short covering in an expiration-day free-for-all. The February contract advanced 21.6 cents to go off the board at $5.66. However, the real story may have been the March contract, which gapped higher at the opening bell and did not look back as it advanced 27 cents to close $5.629. At 119,571 estimated volume was average for expiration day.
Jitters
Articles from Jitters
Aquila Tries to Calm Jittery Credit Agencies, Blames ‘Misguided Actions’ of Others
Looking to calm investor and credit rating agency jitters about energy trading operations, Aquila, Inc. on Friday said that it estimates that 70% of its 2002 operating earnings and 75% of its 2003 operating earnings will come from the more traditional side of its business mix. The company also said it intends to maintain its dividend at $1.20 per share.
June 3, 2002
EIA Predicts High Gas Prices Through 2001
Citing the market’s jitters over strapped gas inventory levelsas it faces the prospect of a much colder winter this year, theEnergy Information Administration (EIA) last week projected thatwellhead prices will stay above the $5/Mcf mark throughout thiswinter, fueling price hikes of about 40% for residential gascustomers.
December 11, 2000
EIA Predicts High Gas Prices Through 2001
Citing market’s jitters over strapped gas inventory levels andthe prospect of a much colder winter this year, the EnergyInformation Administration (EIA) projects that wellhead prices willstay above the $5/Mcf mark throughout this winter, fueling pricehikes of about 40% for residential gas customers.
December 8, 2000
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