Temporary NatGas Rally Sapped By Dose of Supply Reality Check

摘要

Rising oil and equities, coupled with reports of an offshore platform fire and unscheduled maintenance, gave September natural gas a boost early last week. However, as the reality of a bloated gas supply and storage scenario set in, prices regressed by weeks end with further weakness likely in the week ahead. "It's hard to be bullish about natural gas right now," said a Nymex gas futures trader. "We're seeing full-steam-ahead indicators in the stock market and in oil futures prices, but there's far too much supply of gas, that's only going to become more swollen in coming weeks."