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Gold/Mining/Energy : Range Resources (RRC)

RRC 36.34

+0.6%

Jan 23 9:30 AM EST

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To: Bucky Katt who wrote (54)	8/11/1999 10:29:00 AM
From: Bucky Katt	Read Replies (2) of 82

NEW YORK, Aug 11 - NYMEX Hub natgas are expected to open higher Wednesday ahead of this week's AGA storage report as the market continued to trend upward, gas industry sources said. September was trading at $2.765-2.775 per mmBtu in this morning's over-the-counter market after settling Tuesday at $2.748 and last trading at $2.76 on ACCESS. Injection estimates for the storage report are 30-70 bcf, comparing with a 75-bcf gain a year ago. ''It's still moving higher. People are starting to look for a top here, but we'll have to watch the funds. I think a lot of people have a lot to sell at $2.80-2.81,'' one Midwest trader said, adding that he expected the spreads to widen. ''There's a lot more strength in the winter months,'' he said. Technical support in September was seen in the low-$2.60s and then in the $2.48-2.49 area and at $2.425.

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