Gas Futures Take Another Plunge as Winter Disappoints

摘要

Mild winter weather has again routed gas futures,which have fallen for eight of the past nine sessions.The February contract settled 4.5C lower Friday at $2,446 per million Btu and was down 29.1c,or 10.6%,for the week.Capitulation by bulls is most clearly seen in the March contract's discount to April,which has steadily grown from 0.1c on Jan.15 to 4.7C by the end of Friday's session-a sign that market players are positioning for a bearish late winter and spring(NGW Jan.11'21).Even Friday's ostensibly bullish storage data couldn't lift the bearish pall over the market with only three sessions left before February rolls off the board.