Feeding off losses incurred late in the day Monday, natural gasfutures slumped lower on expiration day Tuesday as tradersliquidated longs and rolled positions into back months. TheSeptember contract was the hardest hit, tumbling 6.7 cents to gooff the board at $4.618. In doing so, however, September supplantedJune as the month with the highest final settlement price in thecommodity’s 10-year history.
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Jan., Feb. Show Double Digit Declines
A failed technical move higher, followed by a brisk liquidationof fresh longs left even veteran traders shaking their heads in thenatural gas pit Friday, as prices plummeted lower amid heavytrading. The January contract was dealt the largest blow, tumbling13 cents lower to close at $2.331. February also experienced doubledigit losses, slipping 10.3 cents to $2.335.
December 6, 1999
Storage, Technicals Usher Futures Lower
Long liquidation, that began with local selling Wednesdayafternoon, continued yesterday at the New York Mercantile Exchangeas traders sided with bearish supply figures and ignored bullishdemand predictions. The August contract tumbled 8.5 cents to $2.309and September matched that by dropping 8.6 cents to finish at$2.333.
July 2, 1999
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