Natural gas and crude futures values declined in unison on Wednesday as traders continued to debate whether the bullish move had finally run its course or the recent price pullback was just a pause before the next push higher. April natural gas recorded a low of $8.990 on the day before closing at $9.024, down 39 cents from Tuesday’s close. May natural gas followed suit, shedding 39.2 cents to finish the day at $9.112.
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June Futures Set $6.40 High, Continue Symbiotic Crude Relationship
Rising and falling almost in unison with oil over the past few months, natural gas futures continued the trend Tuesday as the June contract notched a new high of $6.40, before settling at $6.386 up 20.2 cents on the day. The June oil futures contract reached a high of $40.15 on Tuesday, trading at a level that has not been seen since late 1990. The contract closed up $1.13 at $40.06 over supply fears.
May 12, 2004
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