After looking like they would continue to retrace the Tuesday-Wednesday onslaught in morning trading on Friday, November natural gas futures pulled out of a nosedive in afternoon trading to settle at $6.772, down only 2.3 cents.
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October Futures Soar Higher Into Expiration
Erasing the past three days of losses in one fell swoop, October natural gas futures went out with a bang on Tuesday, expiring up 46.1 cents at $5.723. Many industry watchers attributed the skyrocket higher to longer than expected Hurricane Ivan-related shut-ins in the Gulf of Mexico (see related story) as well as sympathy with November crude futures, which notched a $50.20/bbl high on the day. Volume was especially heavy on the day as 108,953 contracts changed hands.
September 29, 2004
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