US January Gas Contract Tests $3 Support With Expiration Looming

摘要

With fundamental props buckling under the weight of anemic heating loads and record domestic gas production, the US January gas contract sank 13.2%, or 45.7￠, last week as it tested support at $3 per million Btu. And while support held, the contract dipped to a low of $2.973/MMB-tu on the eve of Monday's expiration pressured by forecasts for continued mild winter conditions.