Led by the September contract, which dropped 8 cents to $2.956, natural gas futures slumped Thursday as forecasts for moderating temperatures gave bears the confidence they needed to pressure prices. However, Thursday was not a complete disaster for bulls. Instead, some viewed the price action as just another range-bound trading session in which the market failed to break beneath stubborn support in the $2.90-95 area.
Slumped
Articles from Slumped
Light Long Liquidation Escorts September to Expiration
Feeding off losses incurred late in the day Monday, natural gasfutures slumped lower on expiration day Tuesday as tradersliquidated longs and rolled positions into back months. TheSeptember contract was the hardest hit, tumbling 6.7 cents to gooff the board at $4.618. In doing so, however, September supplantedJune as the month with the highest final settlement price in thecommodity’s 10-year history.
August 30, 2000
West Sees Most of Weekend’s Price Softness
Prices slumped Friday as the usual weekend lull in gas demandkicked in, and little severe heat was expected outside the southerntier of states. Western markets tended to see more of the largerdecreases, while a few eastern points managed to hang in there atflat leveles.
June 26, 2000
Futures Slip as Technicals and Fundamentals Clash
Despite a positive open and stronger cash prices, natural gasfutures slumped into the weekend as traders surveyed the prospectof more bearish news this next week in a market that many feel isalready overvalued. After opening at $2.81 the prompt contract wasunable to muster much in the way of upward momentum, and that setthe tone for a choppy, range-bound trading session. April finisheddown 1.2 cents at $2.774. Estimated volume confirmed the lacklustertrading, as only 43,848 contracts changed hands.
March 13, 2000
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