OGJ Newsletter

06/02/2003
Market MovementJune gas price hits NYMEX record highThe June natural gas contract expired May 28 at $5.945/Mcf, the highest finish ever for that month on the New York Mercantile Exchange."The June contract finished 74% above last year's settlement and 16% above the April and May expirations," reported analysts last week at Enerfax Daily. But despite a late surge in prices on its expiration date, they said, the June contract fell below the 3-day settlement average. April and May contracts expired below $5.15/Mcf, both showing weakness at expiration.On May 27, as NYMEX resumed trading after the long US Memorial Day holiday, the June natural gas contract plunged below $6/Mcf for the firs...
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