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Tuesday, September 18, 2012

Natural Gas Prices Quickly Heading For $4?

From Forbes:
The boom in natural gas production that has pushed prices below $2 per thousand cubic feet back in April has planted the seed for a huge correction the other way.  As gas-directed exploration & production has fallen materially and the large storage surplus flips on gas-fired power demand, prices are set to rebound strongly, hitting $4 by the end of the year and possibly breaking higher, according to Canaccord Genuity.
Commodity markets are by nature violent, and natural gas futures are no exception.  After bottoming out at $1.90 per million metric British thermal units (mmBtu) in mid-April, prices surged 72% to $3.29 toward the end of July, and then fell 13.9% to Monday’s $2.88; from the April bottom to Monday, prices are up 51.6%.
Read the entire article here. 

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