Natural gas futures bulls continued to lick their wounds Friday as the March contract traded within its well-established recent range before closing at $4.452, down 3.3 cents from Thursday and 32.2 cents lower than the previous week’s finish.
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Transportation Notes
ANR is not accepting nominations at the French Lick (IN) Meter Station, an interconnect with Texas Eastern, until further notice. The station has been shut in due to measurement problems, ANR said Friday.
Transportation Notes
Texas Eastern said the investigation and repair of the pipeline break at the discharge of the French Lick station in Indiana continues. Until completion of the investigation and repair, receipts on the 24-inch diameter line will be restricted. For Oct. 17, it was not necessary to restrict nominations for gas leaving the constrained area due to reductions in requested volumes. However, Tetco said no incremental supply nominations can be accepted.
Nymex Contracts Recover Slightly From Price Rout
The May Nymex contract took time out to lick its wounds Tuesdayby gaining 2.2 cents to settle the day at $2.501. Several longtraders were concerned that May would add to its massive 17.8 centloss turned in on Monday, but good buying from the outset kept Mayat either side of $2.50 throughout the session.