Punctuated by a 5-cent free-fall in the last five minutes of trading, natural gas futures slumped lower yesterday as traders priced yet-to-be-released storage data — guilty of being bearish, until proven innocent — into the market. With that the September contract concluded its penultimate trading day with a 12.9-cent loss to close at $2.415.
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Traders Expect Fireworks to Continue This Week at Nymex
After etching out its daily trading range during the first 45minutes Friday, natural gas futures limped lazily sideways for therest of the session, as traders elected to stay mostly on thesidelines ahead of the 4-day holiday weekend. The August contractfinished 5.3 cents stronger at $4.476 in a session that saw lessthan 40,000 contracts change hands.
July 5, 2000
Expiration-Day Pyrotechnics Put Bulls Back on Top
Punctuated by a gut-wrenching final 45 minutes in which the spotcontract plummeted, spiked and then fell again, natural gas futuresfinished on a strong note yesterday in a classic short-coveringrally.
January 28, 2000
January Unable to Buck Downtrend
After spiraling down in the last 30 minutes of last Thursday’sabbreviated trading session, the spot January contract gapped lowerand traded in a tight 6-cent trading range Monday as traderscontinued to test the downside of the market. The nearby cashmarket, which was trading 5-10 cents lower on many pipes, had anundeniable affect when the futures market opened at 10 AM EST,traders said. Estimated volume was robust, with 86,466 contractschanging hands.
December 29, 1998
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