Natural Gas prices are down over 11.5% in the last 2 days, falling to their lowest price since January 2013, as a familiar tale of excess production in the face of ebbing demand looms large. As WSJ reports, BNP Paribas’ Teri Viswanath notes“the delayed return of cold weather has simply curbed all buying interest,” and this was exaggerated by technical selling as the market broke previous support around 3.50. Ironically, given its detrimental impact on GDP, Macquarie points out, “it isincreasingly apparent to us that weather will need to bail the market out again this winter – otherwise prices could see material downside during the spring and summer months.”
This post was published at Zero Hedge on 12/22/2014.
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