CME/Nymex September gas futures lost 9.5? to close at $4.233/MMBtu

摘要

Prices opened at $4.336, up slightly from Friday's close and then inched to an intraday high of $4.35 during morning trading before profit taking emerged, ushering in an all-out reversal. September gas fell to an intraday low of $4.182. Part of today's weakness was derived from rhetoric coming from the US Federal Reserve regarding lower consumer spending data, which makes up 70% of the US economy. The Fed said that spending may not pick up in the absence of a recovery in the labor market, which sent market bulls ducking for cover. Also bearish was Baker Hughes data showing that the number of US gas rigs rose nine to 992 last week, the highest level since February 2009.