Seemingly unaffected by the significant strength in the petroleum sector, natural gas futures on Monday pushed lower as the tropics remained quiet and temperatures began to moderate in the U.S. After trading below the psychological $7 level in Sunday’s overnight session, September natural gas traded within a slim 21-cent range during Monday’s regular session before settling at $6.907, down 33.9 cents on the day.
Tropics
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Futures Continue to Sink as Buyers Bide Their Time
With the continued lack of both a hot summer or threatening storms in the tropics, natural gas futures continued lower on Thursday, breaking below recent long-term support lines. After recording a new low for the move of $5.610, August natural gas went on to close at $5.664, down 10.1 cents on the day.
July 7, 2006
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