OGJ Newsletter

11/11/2002
Market MovementNatural gas market sagsNatural gas futures prices declined through most of last week, dipping to $3.85/Mcf at midweek. "The market is well underneath technical support levels, and that could trigger a reaction upward and a short-covering rally later this week," said analysts at Enerfax Daily. "However, it is likely we haven't seen the lows yet."Still, "the winter natural gas market is much better looking than the bears would have believed a year ago. In fact, prices are almost double," said John P. Herrlin Jr., first vice-president of Merrill Lynch Global Securities Research & Economics Group. "That's not to say that natural gas prices will be static, given the at-t...
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