Tuesday, February 23, 2010

Natural Gas Back in Downtrend

from FT:
US natural gas prices dropped sharply on Monday as weather forecasts predicted temperatures in the US north-east would moderate after recent severe winter weather.
Natural gas prices have dropped 12.7 per cent this year and some traders believe that winter will end with gas stocks, currently about 2,025bn cubic feet, at record levels. 

Francisco Blanch, head of global commodities research at Bank of America Merrill Lynch, said demand for gas from US industry had remained very depressed.