Oil, gas price gap remains

06/06/2005
The July natural gas contract price rebounded May 27 but failed to narrow the significant divergence between natural gas and crude prices that opened in the New York futures market as the expiring June contract fell in the three previous sessions.Natural gas for July delivery gained 15.8¢ to $6.37/MMbtu in a shortened trading session May 27 on the New York Mercantile Exchange ahead of the 3-day US Memorial Day holiday. The July contract for benchmark US light, sweet crudes gained 84¢ to $51.85/bbl during that same session.As crude futures prices climbed, the expiring June natural gas contract lost a total of 28.4¢ over three sessions to finish at to a new 3-month low of $6....
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