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To: SJS who wrote (80679)	12/4/2000 11:22:59 AM
From: Jon Cave	Read Replies (1) \| Respond to of 95453

NYMEX halts gas trade for one hr on limit-up price move NYMEX halts gas trade for one hr on limit-up price move NEW YORK, Dec 4 (Reuters) - The New York Mercantile Exchange (NYMEX) said early Monday that trade in natural gas futures was halted for one hour when the January contract locked limit up for five minutes. "The rules are that if either of the first two months hits the 75-cent limit for five minutes, we will have a one hour trading pause in all months. The market will reopen at 11:27 a.m. (1627 GMT)," a NYMEX spokeswoman told Reuters. NYMEX January futures spiked early to the 75-cent limit of $7.423 per million British thermal units, a new contract high and all-time spot continuation chart high. February also locked the 75-cent limit up at $7.283. Traders said private forecasts calling for some extreme cold next week in the mid-section of the country triggered the buying frenzy this morning. "There's a (private) forecast it could be 25 degrees (Fahrenheit) below normal in the middle of the country next week. That's what got us going," a Midwest trader said. A New York trader noted Henry Hub quotes on a widely-watched online service for January gas were now in the low-$7.60s, about 20 cents over the last January NYMEX quote. ((--J Silha, New York Power Desk 212-859-1624, fax 212-859-1758, newyork.newsroom@reuters.com)) REUTERS * end of story *