The July gas futures contract sank 2.3% to the low $2.30s per million Btu Thursday.

摘要

This latest move pushing the price floor even further below three-year support in the $2.50s/MMBtu followed another unexpectedly bearish weekly storage build. “Market balances have loosened significantly on a temperature-adjusted basis in the last two weeks and there is little in fundamental data to suggest that this will change in early-June injections,” Gelber & Associates analyst Daniel Myers said. “For this reason, there not much standing in the way of a price decrease down to at least $2.20 as production continues steadily and mild weather dominates.”