In a move reminiscent of similar extreme weakness in early June, most Rockies points plummeted by more than a dollar Monday and saw low-end quotes dip to less than a dollar. However, the price carnage wasn’t quite as severe as on the trade date of June 4 (see Daily GPI, June 5) when a CIG deal at 15 cents tied NGI’s all-time lowest quote.
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Cautiously, Bulls Probe Higher on Supportive Forecasts
In a trading session reminiscent of days long gone, natural gasfutures were somewhat subdued Friday as traders held prices withina tight 16-cent trading range. Armed with fresh weather forecastsas well as a constructive technical outlook, traders added to theirlength, not only in the prompt month, but also in the summercontracts. Being the last month left on the winter of 2001 strip,March continued to play the role as the sacrificial lamb as it waslimited to a modest 5.2-cent advance. Comparatively, theApril-October summer strip showed a little more life, rumbling 7.1cents higher to close at $5.725.
February 12, 2001
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