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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: lh56 who wrote (4037)	11/16/2001 2:37:26 AM
From: lh56	Respond to of 36161

from enerfax daily: NATURAL GAS FUTURES Henry Hub 12 Month Strip 2.8969 -0.1004 18 Month Strip 3.0731 -0.0982 \| Month \| High \| Low \| Close \| Change \| \| DEC \| 2.590 \| 2.520 \| 2.551 \| -0.125 \| \| JAN \| 2.810 \| 2.750 \| 2.767 \| -0.117 \| \| FEB \| 2.865 \| 2.811 \| 2.825 \| -0.107 \| \| MAR \| 2.850 \| 2.805 \| 2.822 \| -0.102 \| \| APR \| 2.840 \| 2.780 \| 2.809 \| -0.095 \| \| MAY \| 2.890 \| 2.840 \| 2.852 \| -0.094 \| \| JUN \| 2.935 \| 2.890 \| 2.902 \| -0.094 \| \| JUL \| 2.990 \| 2.947 \| 2.947 \| -0.094 \| \| AUG \| 3.030 \| 2.990 \| 2.992 \| -0.094 \| \| SEP \| 3.040 \| 3.007 \| 3.007 \| -0.094 \| \| OCT \| 3.075 \| 3.040 \| 3.047 \| -0.094 \| \| NOV \| 3.275 \| 3.242 \| 3.242 \| -0.094 \| "Natural Gas Futures and Cash Follow Oil Complex Lower Natural gas futures for December delivery on the NYMEX continued to fall lower yesterday, dropping $0.125 to $2.551 per MMBtu on mild temperatures across much of the nation, along with sympathy selling with the free-fall in petroleum futures. In doing so, the market took out the October 1st low of $2.535, the weakest point in the downtrend that began last winter, which had been touted as a technical support point. Still, prices settled above that level, likely because colder weather forecast for next week. The January contract lost $0.117 to $2.767 per MMBtu. Prices opened lower on overnight developments, and held to a tight trading range for the duration of the session. Trade and commercial accounts were sellers near the day’s highs. Look for the next technical support level at $2.42. With crude oil in a free-fall, tumbling $4.22 per barrel on the NYMEX yesterday, already bad natural gas fundamentals just got worse. Combined with storage at record high levels, the oil complex meltdown will add to the selling pressure until cold weather turns the situation around. But before the cold weather arrives, more moderate temperatures are expected through this weekend. The AGA reported Wednesday an injection of 7 Bcf, bringing the total to 3.017 Tcf, 365 Bcf more than a year ago. Natural gas for next day delivery across the US and Canada continued to sink lower yesterday, generally falling $0.20 – $0.30 per MMBtu. Natural gas for next day delivery at the Henry hub tumbled $0.24 to $2.04 per MMBtu." -larry