December Nymex Surges At Expiration; Cash Markets Erratic In Pre-holiday Trade

摘要

A cold snap across much the US combined this week with a multi-day holiday trading strip and stout losses in crude'oil prices to make for a volatile natural gas market.rnThe December NYMEX gas futures contract rolled off the board Monday at $6.888/MMBtu, up 40.8 cents, or 6.3%, thanks to unseasonably low temperatures on tap through the first part of December. "Prices are being buoyed by continued cold weather across high-consuming regions," Ml-' Global broker Mike Fitzpatrick said.rnMarketers noted that back-month winter gas contracts were trading close to flat with one another and just a few cents lower than the newly expired December contract. "I think that just reflects the market having no opinion on the winter at this point in time," said George Ellis, director of energy marketing with the Bank of Montreal.