Prices continued to recede along with severe winter weather Wednesday. The declines also continued to grow more consistent across geographical lines. With the exception of a plunge of more than 40 cents at the Florida citygate (which still left it the market’s most expensive point), virtually all other points fell between about a nickel and 15 cents.
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Futures Rally Then Recede Ahead of AGA Data
The November natural gas futures contract closed down 3.1 centsyesterday at $2.824 after trimming gains notched earlier in thesession. After a spirited sell-off in Tuesday’s Access trading, thenewly crowned prompt month erupted higher Wednesday to print a$2.94 high as buyers picked up contracts which they hope willrepresent bargains heading into the winter heating season. Byafternoon, however, the market banter had turned once again tobearish storage predictions and that pressured the market lower inlight trade.
September 30, 1999
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