April Gas Plummets to 2002 Lows; Economy, Storage Hit Expiration

摘要

A glutted outlook for US gas supply coupled with gloomier economic expectations to roll Nymex April natural gas off the board at lows not seen since October 2002. In fact, the expiration in the 3.60s was the first time since that date that a natural gas prompt month futures contract settled below 4/MMBtu. Looking ahead, prices appear poised for further erosion.