Summed

Futures Direction Remains Undecided; Natgas/Crude Relationship on the Rocks

Traders really summed up the indecisiveness of market sentiment on Tuesday as they pushed the May natural gas futures contract to a high of $7.690 and a low of $7.490 before settling almost smack dab in the middle at $7.598, up 3.6 cents on the day. The day’s action also showed just how fickle the crude/natural gas futures relationship can be as crude plummeted, giving back almost all of its gains from Monday.

April 25, 2007