von GoldenSnuff » Dienstag 19. Mai 2009, 20:11
Gas leider dick runter die letzten Tage......hab da den idealen Zeitpunkt zum Ausstieg verpasst.....Rechne generell sowohl bei Gas als auch bei den Agrars (daher auch die Verkäufe im Weizen) nochmal mit einem 2. Standbein nach unten.....Liege daher mit Limits wieder auf der Lauer....
US spot natgas pressured by mild weather, futures
* NYMEX crude futures slide nearly 7 percent
* Mild spring weather curbs demand
* Record high inventories, recession weigh on sentiment
NEW YORK, May 19 (Reuters) - U.S. spot natural gas prices fell at every price point Tuesday, most, including gas at benchmark Henry Hub in Louisiana for the fourth straight trading day, pressured by mild spring weather, record high inventories and ongoing concerns about the slow economy.
In addition, big losses in gas futures, down nearly 7 percent at one point Tuesday, added more weight to the downside. But the start of the Atlantic hurricane season on June 1 could keep some sellers cautious, traders said.
Gas for Wednesday delivery at Henry Hub slid 3 cents on average to $3.99 per million British thermal units, its first time below $4 and lowest level since May 7, according to Reuters data.
Hub cash also slid 3 cents on Monday for gas delivered on Tuesday after rising last week to $4.42, its highest level since early March, and fell April 27 to $3.19, its lowest level since September 2002.
Late Hub cash deals were heard at about a 6-cent discount to the tumbling front month June futures contract on the New York Mercantile Exchange , firming from deals done late Monday at about a 15-cent discount.
The current Hub average was still above the May monthly index of $3.33, but still well below the year-ago price of $11.10 and the $7.87 mean on about the same day in 2007.
On NYMEX, the front month June contract last traded down about 22 cents at $3.92, after sliding as low as $3.859, or nearly 7 percent, at $3.859 in electronic trade.
In major consuming markets, gas for delivery on the Transco pipeline at the New York city gate fell 8 cents on average to $4.37, while Chicago gas was 9 cents lower at $3.88.
Temperatures in both key gas consuming cities mostly above normal for the next six days, with highs climbing back near 80 degrees Fahrenheit in both cities, according to forecaster DTN Meteorlogix.
Houston, Los Angeles and Miami were all seen close to normal for the period, with highs in the South and West expected to range from near 70 degrees to near 90 degrees F, the forecaster said.
The latest National Weather Service six to 10-day outlook issued Monday called for above-normal readings for the western third of the nation and in the Northeast and below-normal readings across the South and parts of the upper-Midwest.
On the storage front, last week's report from the U.S. Energy Information Administration showed total domestic gas inventories of 2.013 trillion cubic feet stood 497 billion cubic feet, or 33 percent, above last year and 374 bcf, or 23 percent, above the five-year average.
Early injection estimates for this week's EIA report range from 88 bcf to 105 bcf with most in the high-90s bcf. Stocks rose an adjusted 86 bcf for the same week last year, while the five-year average build for that week is 90 bcf.
To get inventories back to a comfortable 3.4 tcf by next winter, weekly injections must average 55 bcf for the remaining 25 weeks of the stock building season, well below the weekly five-year average of 70 bcf for that period.
If weekly storage builds through October match the five-year average pace, inventories will begin next heating season with 3.752 tcf in the ground, a new record high.
While some traders expect fundamentals to tighten this summer as record drilling declines trim output and relatively low prices encourage more demand, others worry a growing inventory glut could seriously pressure prices later in the April-through-October stock building season.