Natural Gas: Will The Recent Rally Change The Bear Course?


By EconMatters

A two-day 10.7% rally helped natural-gas futures to a three-week high of $2.684 per mmbtu on Friday Feb. 17, partly sparked by more-than-expected supplies decline, Encana (ECA) shutting in production, and traders' short-covering.
U.S. natural gas futures just recently plunged to a 10-year low in mid-January hitting $2.32, and have dropped more than 50% from 2011 peak of about $5.00 in June, and the current market fundamentals suggest the recent artifical rally could not be sustained for long.


© EconMatters All Rights Reserved | Facebook | Twitter | Post Alert | Kindle
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Economics
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!