Natural gas futures tumbled lower in moderate trading Friday on the New York Mercantile Exchange. Weak overnight trading set the stage for a sharply lower open and when the opening bell sounded, prices had already registered an 11-cent loss.
Locals
Articles from Locals
Locals Traders Ignore Storms, Drop Futures 21 Cents
Natural gas futures fell sharply in abbreviated pre-holiday trading Friday as technical selling apparently outweighed concerns over the development of several tropical systems. The October contract finished its second session as prompt month on a negative tone, dropping 21.3 cents to close at $4.731.
Technicals Overcome Bearish Fundamentals to Push Futures Higher
Working off oversold conditions, natural gas futures turned higher Tuesday, as locals tried to pick a bottom, and trade and commercial sellers were slow to emerge. The end result was a 9.4 cent gain to $3.872 for the December contract, just a few ticks below its high for the session. Estimated volume was 65,897.
Arguments Continue Over Sharing Nova Scotia Supplies With Locals
After six months of increasingly hot and complicated wrangling, the international conflict over natural gas from offshore of Nova Scotia has boiled down to a question at its heart: How free is energy free trade?
Arguments Continue Over Sharing Nova Scotia Supplies With Locals
After six months of increasingly hot and complicated wrangling, the international conflict over natural gas from offshore of Nova Scotia has boiled down to a question at its heart: How free is energy free trade?
Baja Locals Oppose LNG Proposals
Local opposition is building in and around the proposed sites for liquefied natural gas (LNG) terminals on the Pacific Coast of North Baja in Mexico, according to a report in the Los Angeles Times, which cited meetings in Rosarito where project proponents were given an ear full from local business owners.
Futures Shuffle Lower as Locals Exert Their New-Found Influence
Volatility was once again the name of the game Monday in the natural gas pit at Nymex, as local traders found it easier to push prices around in a market noticeably void of its once-dominant market-maker, Enron. The exchange last Thursday forbid its floor members to accept an order placed by Enron or its affiliates without written authorization, and since that time the market has experienced volatility that one would not expect considering the lack of fundamental or technical impetus. Rebounding nearly 8 cents from a $2.555 low notched early in the session, the January contract finished at $2.63, down 6.7 cents for the day.
Technical Blip, Weather Forecast Trigger Spike
The third time was a charm yesterday for bulls in the gas pit atNymex as locals and technical traders covered shorts en masse afterdiscovering a technical blip on their charts. After thrice testingand failing to develop beneath the $5.74 level Wednesday eveningand yesterday morning, the market rocketed Thursday afternoon, ledby a March contract that rumbled 67.3 cents higher to close at$6.38.
Fourth Time is a Charm for Persistent Bulls
For the fourth straight trading session, natural gas futuresraced off to a fast start Wednesday as locals and speculators triedagain to push the market through key resistance and above therecent trading range. But unlike the failure and subsequent sellingthat plagued the market on the prior three occasions, yesterday’smarket was able to hold on and add to gains late in the day. TheAugust contract finished at $2.253, up 5.5 cents.
Active Trading by Locals Sends Futures Lower
Adding to the price erosion that began last Tuesday, natural gasfutures tumbled lower at the New York Mercantile Exchange Monday asunsupportive cash market values met with heavy local selling.However, when a second wave of selling failed to materialize,speculative traders were forced to cover shorts into the closeyesterday, sources said. The August contract finished at $2.144,down 1.9 cents on the day.