Contract Tanks 10.4% to $2.80s, Reversing Prior Week's Big Gains

摘要

The March gas futures contract tumbled more than 10% last week to settle in the mid-$2.80s per million Btu, reversing the prior week's remarkable bull run. Explanations for the pullback were plentiful, from the market eyeing winter's end to a return of record production as the freeze thaws. Last week's small storage withdrawal-and a similar pull expected this week-also weighed on the contract.