Scared off by the $6 psychological mark yet again, the natural gas futures prompt month tucked tail Friday as the June contract notched its second consecutive down day. After penetrating the $6 level in trading Wednesday, the June contract followed up its Thursday drop of 4.2 cents with a 6.2-cent loss on Friday to close at $5.862. The prompt month traded in the $5.850-5.970 range on light volume, with 48,826 contracts changing hands.
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Prices Soften Despite Frigid Fundamentals, Higher Screen
One marketer was certain it had to be psychological factors thatsent most markets lower by various amounts Tuesday because, as henoted, fundamentals and the screen indicated an upward pathinstead. Few points besides Malin and the PG&E citygate managedgains as the majority ranged from essentially flat to down about adollar in the Northern Natural Gas market area.
December 20, 2000
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