The natural gas futures roller-coaster ride, complete with ups and downs, continued into a new week as the October contract — fresh off of a 32-cent jump Friday — dropped 20.2 cents Monday to close at $3.576.
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Gas-Directed Producers Anticipate Bumpy Ride in 2009 and Beyond
Natural gas producers, especially those active in shale basins, could be in for a rough ride in 2009 and beyond if the current turmoil in the financial markets and the downturn in commodity prices continue unabated, producers told FERC Friday. And while industrial customers see lower gas prices as good news, they say now is not the time to relax.
Gas-Directed Producers Anticipate Bumpy Ride in 2009 and Beyond
Natural gas producers, especially those active in shale basins, could be in for a rough ride in 2009 and beyond if the current turmoil in the financial markets and the downturn in commodity prices continue unabated, producers told FERC Friday. And while industrial customers see lower gas prices as good news, they say now is not the time to relax.
January Futures Expire Higher Following Late Rally
Taking a break from the passive expirations of recent months, the January natural gas futures contract went on a roller-coaster ride in the last hour of trading Thursday, soaring from $6.885 to a high of $7.240 before going off of the board at $7.172, up 12.6 cents from Wednesday’s close.
Rally Continues at Slower Pace; Rockies See Spikes
The cash market advanced again at nearly all points Thursday as it continued to ride the coattails of prior-day futures strength and got an extra boost from forecasts of rising temperatures in the Northeast. However, except for spikes in the Rockies, Thursday’s gains were considerably smaller than those of Wednesday, signaling that this week’s rally may be starting to run out of steam.
March Futures’ Rodeo Ride Ends with Small 7.3-Cent Decline
Near-month natural gas futures backtracked 7.3 cents Wednesday to $7.667, but the wimpy finish revealed little about the rodeo ride that took place during the trading day. The contract bounced all over the charts, dipping to a low of $7.50 after the opening bell, suddenly jumping up to a high of $7.960 about two hours later and then collapsing back below $7.60.
Evolving Energy Markets, Incorrect Forecasts Dominate 2006
The energy markets experienced a roller-coaster ride in 2006 as hurricane and weather forecasts ultimately ended up missing their marks, while electronic energy trading competition increased and the banks in the energy merchant sector continued to evolve from peripheral participants to core market players.
Evolving Energy Markets, Incorrect Forecasts Dominate 2006
The energy markets experienced a roller-coaster ride in 2006 as hurricane and weather forecasts ultimately ended up missing their marks, while electronic energy trading competition increased and the banks in the energy merchant sector continued to evolve from peripheral participants to core market players.
Dime-Plus Gains Dominate; TS Threat Fading
Despite weather fundamentals remaining weak for the most part, cash prices were able to ride the screen’s 16.2-cent gain Tuesday and modest further futures strength the next morning to post gains across the board Wednesday.
Gas Futures Follow Crude Higher, Maintain Recent Trading Range
Buoyed by geopolitical tension-induced strength in the petroleum markets, natural gas futures had no choice Monday but to go along for the ride. May natural gas put in a low of $6.680 in morning trade, but spent the rest of the afternoon exploring higher territory. The prompt month settled at $6.882, up 13.9 cents on the day.