The August natural gas futures contract slipped 1.1 cents to$2.439 Thursday, as traders scrambled to finish their businessahead of the long fourth-of-July weekend. “Today was pretty muchjust position covering ahead of the weekend,” a broker told GPI. “Idon’t think anyone was too concerned with, or had the goal of,moving August outside of its trading range,” he said. For thatreason, he was not surprised to see technical support at $2.38hold.
Slipped
Articles from Slipped
July Fizzles Lower Ahead of Storage Report
The July contract slipped ever-so-slightly yesterday during aquiet trading session as many traders elected to remain on thesidelines in anticipation of the AGA’s weekly storage report. Julywas limited to a tight nickel range settling down 0.8 cents to$1.93. Estimated volume was 47,000.
June 11, 1998
Cash Trading Inches Lower Giving Back Recent Gains
Cash prices slipped lower in most areas yesterday, giving backweather-driven gains earlier in the week. Sources blamed theweakness mainly on the inability of the June futures contract tomuster considerable gains, along with forecasts of moderatingtemperatures going into the weekend. With the exception of minorgains in Sumas and Stanfield, most trading areas lost between 3-5cents Tuesday.
May 20, 1998
June Futures Price Slips But Remains Above $2.20
The June Nymex contract slipped 4.2 cents to $2.215 on Tuesday,thanks to what one analyst said was intraday selling off technicalresistance at $2.26. Total estimated volume came in at 39,705contracts. “Cash started to rally, so futures have pretty muchconverged with cash. The market is being very cautious, after thebreak last week,” a broker told Daily GPI.
May 6, 1998
June Futures Make Big Noise With Small Price Change
The June Nymex contract may have only slipped a mere 1.9 centsto $2.202 on Friday, but that small price change may loom verylarge indeed. By virtue of not settling above $2.22, “we’ve takenout and settled below the up trendline, establishing at least ashort term downtrend, if not a sideways trading range,” said TomSaal, Vice-President of Pioneer Futures in Miami. “I think themarket rode up to $2.70 because of speculative buying, and also onthe expectations of a hotter summer. Well, we haven’t met thoseexpectations yet, and now the market has tumbled back down,” hesaid.
May 4, 1998
April Prepares To Expire With Little Excitement
The April Nymex contract slipped 2.7 cents to $2.338 onThursday, as traders continue to limit trading to small rangesahead of the expiration of the April contract at 3:10 EST latertoday. April remains several cents above $2.30 despite Henry Hubcash prices that are currently a nickel cheaper
March 27, 1998
Futures Slip Lower in Slow Trading
The April Nymex contract slipped 1.3 cents to $2.228 onWednesday, as the near month contract continues to be hounded bytight trading ranges. April could move no higher than $2.245 and nolower than $2.210 yesterday.
March 5, 1998
Listen to the latest episode of our newest podcast NGI's Hub and Flow via:
