December natural gas futures in their second regular session as the front-month contract on Friday continued to navigate rudderless — trading above and below Thursday’s settle before closing almost unchanged for a second straight session.
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Futures Drop 11.1 Cents, But Market Still Seen as Range-Trading
Natural gas futures traders continued their rudderless approach to trading on Wednesday as the February contract bounced between $5.978 and $5.784 before closing the day’s regular session in the middle at $5.872, down 11.1 cents from Tuesday’s close. Traction for a price move in either direction remained unavailable as fundamentals ranged from the recent bullish cold in the East to bearish natural gas storage withdrawal expectations for the week ended Jan. 2.
January 8, 2009
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