August Higher But Still in a Trading Range

August natural gas made it four in a row and continued to march higher Wednesday, prompted by reports showing extended heat over the eastern two-thirds of the country. At the closing bell August had risen 7.0 cents to $4.403 and September had tacked on 7.5 cents to $4.387. August crude oil rose 62 cents to $98.05/bbl.

July 14, 2011

Cash, Futures Keeps Drifting Higher on Lack of Bearish Fundamentals

The unexpected happened again on Tuesday when natural gas cash and futures prices defied the slightly cooler weather trend, the overbought conditions on Nymex, the absence of a threatening hurricane and the lofty height of price levels — and proceeded to continue climbing.

August 17, 2005

July Contract Swings Down 19.6 Cents, Closes Near Daily Low

The July gas futures contract slid 19.6 cents lower on Monday to $6.314, succumbing to overbought conditions, pressure from strong gas storage injections, a declining storage deficit and normal temperatures across most of the nation.

June 10, 2003

Bears Still in Control Despite Modest Futures Advance

Despite overbought conditions and forecasts calling for warming temperatures, natural gas futures finished the week on a positive note Friday as traders bid the market higher in sympathy with cash prices that remain at a premium to futures. There also was apprehension of the release of potentially bullish storage data Thursday. However, the gains were a winter-month-only phenomenon, as advances in February and March were in sharp contrast to losses throughout the rest of the contracts.

January 27, 2003

Friday’s Futures Retracement Brings Out Contrasting Market Views

Alleviating overbought conditions, natural gas futures sifted lower Friday as traders took profits ahead of the three-day holiday weekend. By checking down to its $5.44 low for the session, the February contract filled in a key level on the charts. It closed at $5.536, down 10.9 cents for the session. Estimated volume was light in Friday’s abbreviated session.

January 21, 2003

Bulls Continue to Run at Nymex Amid Supportive Fundamentals, Unrelenting Technicals

Despite overbought conditions and a market that many felt could go no higher, natural gas futures defied gravity yet again Monday, as bulls rebounded strongly from a lackluster morning sell-off. With that the September contract achieved a new three-and-a-half-month high, gaining 13 cents to close at $3.617. Estimated volume was light to moderate at 93,696.

August 27, 2002

Futures Falter Amid Bearish Storage Situation

Natural gas futures finished on a sour note Wednesday as tradersalleviated overbought conditions and took profits both before andafter the release of fresh storage data. After opening lower, theApril contract worked its way down throughout much of the sessionbefore tumbling at the closing bell to finish at $2.71. The promptmonth’s 8.9-cent decline was trumped only by the May contract,which dropped 9 cents to finish as $2.747. Estimated volume wasmodest with only 63,810 contracts changing hands.

March 9, 2000

Futures Fall Despite Arrival of Winter

Despite the coldest weather of the season, the futures markettumbled lower yesterday as traders relieved technical overboughtconditions by unloading new long positions. Cash prices, whichslipped for only the second time in eight trading sessions, werealso seen as a negative factor. After opening near the bottom ofMonday’s wide trading range, bears wasted little time takingJanuary down 10.7 cents to settle at $2.522.

December 22, 1999