After zigzagging for a majority of the trading session within a $6.18-6.26 range, the June natural gas futures contract finally found traction in the afternoon, jumping up to ring the $6.35 bell before closing at $6.31, up 4.1 cents on the day.
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In Line With Projections, Storage Figure Sends Futures Zigzagging
Following the Energy Information Administration’s (EIA) announcement of a 28 Bcf build for the week ending April 16, the Nymex May natural gas futures contract immediately probed lower, reaching $5.55 just before 11 a.m. EDT, before rebounding higher to close the session at $5.623, up 4.1 cents on the day.
April 23, 2004
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