Traders’ concerns over what was expected to be an extremely small weekly storage injection appeared to be unfounded Thursday as the Energy Information Administration (EIA) reported that 44 Bcf was put into underground stores for the week ended Sept. 30. Dropping lower in waves Thursday, November natural gas futures ended up settling at $13.375, down 80.8 cents on the day.
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April Futures Soar 26 Cents in Prompt Month Debut
Rumors that the winter heating season was over appear to be unfounded as the East has once again dipped below freezing, sparking natural gas futures to search for higher ground. April natural gas impressively climbed 26.1 cents in trading on Friday to close at $6.715, half of a cent off its high for the session. March expired on Thursday at $6.304.
Nymex, CFTC, FERC Downplay Impact of Hedge Funds on Gas Futures
The growing alarm about the impact that hedge funds are having in the natural gas futures market is largely unfounded, FERC Chairman Pat Wood, CFTC Chairman Sharon Brown-Hruska and Nymex Chairman Mitchell Steinhause said recently in three separate letters to Rep. John D. Dingell (D-MI), ranking member on the House Committee on Energy and Commerce.
Nymex, CFTC, FERC Downplay Impact of Hedge Funds on Gas Futures
The growing alarm about the impact that hedge funds are having in the natural gas futures market is largely unfounded, FERC Chairman Pat Wood, CFTC Chairman Sharon Brown-Hruska and Nymex Chairman Mitchell Steinhause said in three separate letters to Rep. John D. Dingell (D-MI), ranking member on the House Committee on Energy and Commerce.