Winters

Weather or Not…..Futures Are in a Slump

As yet another storm in what is shaping up to be one of thesnowiest winters on record pummeled New England Friday, natural gasfutures spiraled higher only to reverse lower at mid-day as tradersstared ahead at bearish intermediate-term temperature and storageoutlooks. The May contract tumbled lower under the considerableselling pressure to close at $5.025, leaving the prompt month witha 24.9-cent loss to conclude the week. Considering the size of theprice move, volume was relatively weak as less than 60,000contracts changed hands.

April 2, 2001
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