Nymex futures once again were unable to buck the downtrend andcontinued to slip lower yesterday in quiet trade. The July Nymexcontract opened below $2 before breaking through long-term supportat $1.97 only to claw its way back up near the close. July settledat $1.976, down 5.1 cents for the day. In doing so, July posted thelowest level of any prompt contract since January.
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Voyageur Expansion Project in Doubt
Viking Gas Transmission, a partner in the Viking Voyageurpipeline expansion project, formally confirmed it has been unableto secure sufficient shipper support for the proposed expansion andis “reviewing its alternatives” on the project with its partners,TransCanada PipeLines and Nicor.
April 22, 1998
Futures Rally in Response to Cash Gains
For the third day in a row the April Futures contract tested butwas unable to break through the $2.185 resistance level, stoppingshort at $2.172 Wednesday. April opened higher in sympathy withHenry Hub cash market prices, which eked out a couple-cent gain onthe day, but it was limited to a 4-cent trading range with arelatively light 31,462 contracts changing hands.
March 12, 1998
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