After Rebound, Traders Bearish on Storage, Bullish on Summer

Propelled by a strong showing in the overnight Access tradingsession, natural gas futures clawed their way higher on the openThursday as short-term traders alleviated oversold positions.

January 26, 2001

Commercial Buying Draws Futures Closer to $10.00

Propelled by heavy market-on-close (MOC) buying, natural gasfutures spiked to a new all-time high yesterday, as commercialtraders hedged their financial swap positions. After gapping higheron the open, the January contract rallied to $9.90 on rumors thatthere would be commercial buying at the close. Those rumors turnedout to be true and after sinking lower for much of the session, theprompt month raced back to $9.90 moments before the closing bell.January finished at $9.83, up 50.4 cents on the day.

December 22, 2000

Out-Month Buying Boosts August into Expiration

Propelled by follow-through buying on the heels Wednesday’sbullish storage report, natural gas futures shuffled higheryesterday, as traders looked past the expiring August contract tofocus on the out months.

July 28, 2000

April Rises Sharply, Tests New Highs

After reaching a new life-of-the-contract high on Monday,follow-through technical buying propelled the April gas futurescontract sharply higher again yesterday. April ended the regulartrading session up 7.5 cents at $2.761 after reaching a high of$2.770. The low for the day was 10 cents down from that at $2.660.May climbed 7.6 cents to $2.771 and the summer strip (Apr.-Oct.)ended the day very strong at $2.786, up 6.5 cents for the session.

March 1, 2000

Bears Regain Control After Rally Fails

Propelled by a technical boost following Monday’s 23-centdecline, the natural gas futures market rallied during the firsthour of trading Tuesday as traders took profits on newlyestablished short positions. But after peaking at $2.31 momentsafter 11 A.M. EST, the December contract once again fell victim tothe same negative weather pattern that has weighed on prices theentire month. That downward momentum quickly took back the earlieradvances, depositing December to $2.189, down 0.8 cents for theday.

November 24, 1999

Storage and Storms Deliver One-Two Punch

Propelled by a tropical depression swirling in the Bay ofCampeche and concerns of yet another bullish storage report,natural gas futures spiraled higher yesterday as traders coveredshort positions. That buying interest pushed the September contractto $2.805 — the highest mark for a spot month contract sinceDecember of 1997 — before settling at $2.792 for the session.

August 19, 1999

Storage, Weather Send Traders Mixed Signals

After a spirited rally Tuesday that propelled the Augustcontract to its highest level since July 15, the market took abreather Wednesday as traders elected to wait on the sidelinesahead of fresh fundamental news. The prompt month finished down 0.6cents at $2.394 in choppy, range-bound trading.

July 1, 1999
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