Natural gas in bear market

Energy , Natural Gas , USA Dec 21, 2014 No Comments

Natural gas in bear marketNatural gas for January delivery ended down 17.8 cents, or 4.9%, at $3.464 a million British thermal units on the New York Mercantile Exchange, the lowest settlement since Nov. 4, 2013. With Friday’s sell-off, the contract is down 23% from its Nov. 20, 2014, close of $4.489 a million Btus.

The delayed return of cold weather has simply curbed all buying interest,” said Teri Viswanath, natural gas strategist at BNP Paribas in New York. “Unseasonably warm weather that persisted through the month of December now necessitates extreme weather conditions to avoid a gas supply surplus.”

Via Natural-Gas Futures Fall Into Bear Market – WSJ

Pascal Blanc

Pascal has implemented numerous software solutions in the areas of procurement, sourcing, spend management, supplier evaluation and performance. His clients include Fortune 500 companies in Europe, Asia and North America. He is a co-founder of Source & Procure.

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