"5 bagger by xmas", page-5

re: "5 bagger by xmas"--price leap NEW YORK, Sept 19 (Reuters) - October natural gas futures on the New York Mercantile Exchange rallied to an all-time record high on Monday, driven by fears that the season's latest tropical storm in the Atlantic could further cut production in the Gulf of Mexico, traders said.
The nearby October contract , which opened at $11.95 per mmBtu, rallied $1.519, or nearly 14 percent, to close at $12.663.
Late in the session, the front month contract hit $12.70, which was a contract high and all-time spot continuation chart high.
The move eclipsed the previous benchmark high of $12.30 set in late August after Hurricane Katrina tore through the central Gulf, damaging offshore pipelines and platforms and shutting in significant amounts of supply.
"It was all about (Tropical Storm) Rita today. It looks like the projected path of the storm is moving further north, closer to the Texas-Louisiana border, and that's got everyone nervous," said one East Coast trader, noting landfall on the central or northern Texas coast later this week could mean more disruptions to Gulf oil and gas production.
Traders said fears that Tropical Storm Rita could again shut in Gulf gas output fueled the early buying, particularly with more than a third of offshore Gulf gas production still shut in after Hurricane Katrina hit three weeks ago.
The U.S. Minerals Management Service said 3.37 billion cubic feet per day of Gulf gas output was still cut due to Katrina, or about 34 percent of the total produced daily from offshore wells.
Since Aug. 26, platform and pipeline damage done by Katrina has cut a total of about 116 bcf of gas production.
MMS also said it may take until the end of October for oil and gas production in the Gulf to return to near pre-Katrina levels, but it will take even longer for that production to make it to the market due to problems and shutdowns at oil refineries and gas processing plants.
The National Hurricane Center in Miami and other major weather models on Monday showed Tropical Storm Rita entering the Gulf of Mexico at midweek after taking aim at the Florida Keys.
NHC, which said the storm could strengthen into a hurricane over the next 24 hours, showed it making landfall along the northern Texas coast sometime early Saturday.