April NatGas Futures Plummet to '02 Lows Ending Long Bull Rally

摘要

Why was Nov. 15, 2002, such a significant date to natural gas futures traders last week? It was the last time—before Friday—that a front month gas contract closed under 4/MMBtu. The key difference is the 2002 close marked the beginning a long bull rally in gas and Friday's close could signal the end as gas prices are pressured by economic weakness and plunging equities.