With what is expected to be a bearish EIA natural gas storage on Thursday, August natural gas futures may have stole a few cents on Wednesday to close at $5.931, up 9.4 cents on the day. Trading on the day was marked with a number of rises and falls, notching a low of $5.86 and a high of $5.95.
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Futures Strong Ahead of Potentially Bearish Storage Release
After overcoming an early setback, natural gas bulls stole the show for the third-straight session yesterday, as commercial traders propelled the futures market past several important technical levels. By virtue of its 12.2-cent advance and $4.301 closing price, the July contract has rebounded almost 60 cents from last Friday’s lows to notch a new three-week high.
June 13, 2001
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