During late February US bid-week trading, the combination of shrinking industrial demand, tumbling oil and equities prices, and an intensifying bearish longer-term outlook for gas storage sent Henry Hub prices sinking to lows not seen since 2002 — taking fixed-price deals at trading points around the country down with them (WGI Feb.4,p6). "The weather is moderating as winter is coming to an end, so people are already looking at the potential for spring and summer demand — and nothing looks very bullish at the moment," said a gas futures trader in New York. "The only bullet the bulls have left is the incredible speculative shortness that might produce some short-covering rallies."
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