US Gas Futures Continue Plumbing 10-Year Lows, Could Slip Under $2

摘要

US February natural gas futures plunged to price levels not seen for a decade last week. And while Friday's few-cent gain broke an eight-session losing streak, total losses since Jan. 6 hit 71.90 or 23.48%. The catalysts behind the market rout into the $2.30s are the same ones that have plagued the market since the US emerged from a blistering summer: Extraordinarily light weather-driven demand and a relentless increase in domestic gas output, which together have practically ensured a more than 2 trillion cubic foot carryout into spring and a possible storage train wreck in the fall.