With its eye on the longterm, Chevron Corp. last week added 228,000 net acres to its Marcellus Shale portfolio under an agreement with privately held Chief Oil & Gas LLC and Tug Hill Inc.
Longterm
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Weather, Storage Lead April Futures Higher
In a last ditch effort to keep prices above the longterm trendline, bulls in the gas pit at Nymex battled back yesterday,propelling April prices higher throughout the morning hours. As itturns out, that buying pressure would not be tested, and from thatpoint forward prices chopped sideways throughout the afternoon.With that, the April 2001 contract concluded its first session asprompt month with a neat, 18.2-cent gain to finish at $5.279.
February 28, 2001
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