In a shortened trading session in observation of the Sept. 11, 2001 terrorist attacks, October natural gas futures were mostly uneventful Friday as they were contained within a slim 18-cent trading range before settling at $11.263, down 8.4 cents on the day but 42.8 cents lower than the previous Friday’s close.
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Futures Snap Back in Late-Day Rebound
“You can’t win the game if you give the ball away” was aseemingly logical but somewhat superfluous observation made byHoward Cosell on Monday Night Football back in the 1980s. If Cosellwere to have commented on the natural gas futures market yesterday,he probably would have said something like, “The market couldn’tmove lower because there was no additional selling.” And althoughthat comment would also have been redundant, it aptly describes thenature of yesterday’s price action at the New York MercantileExchange, where once early selling dried up, the market was free tobubble higher in near-frictionless trade. The May contract finishedup 3.2 cents to $2.128.
April 13, 1999
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