Basis traders focus on prompt-month packages as June NYMEX nears expiry

摘要

Prompt-month financial gas basis swaps spent the weeknreacting to cues from the futures market, while movement alongnthe back of the curve was tepid at best, as traders focused morenon the approach of expiration of the June NYMEX gas contract.nAECO-NIT in Alberta reacted strongly to the futures market,nwith AECO June bouncing up on Monday before eventually fallingnoff 7.5 cents to minus 58 cents/MMBtu, while its winter 2010-2011npackage rose three quarters of a cent to minus 49.25 cents/MMBtu.