US January Gas Futures Tumble on Expanding Record Storage Surplus

摘要

US natural gas futures continued to nose-dive last week as the outlook for unusually mild weather in the weeks ahead threatens to exacerbate what is already a record glut of natural gas. The calendar 2012 strip moved solidly under $3.40 and January gas futures edged closer to hard resistance at $3 late last week as the winter demand outlook grew more bearish with the National Weather Service calling for temperatures to average above normal through March in the major eastern US markets.