Energy Insider Blog

Natural Gas Futures Settle Down 7.9% After Sharp Sell Off

Posted by Alberto Rios on Aug 2, 2012 4:59:00 PM

Video Outlook: August 2, 2012

describe the imageA larger than expected injection of 28Bcf triggered a sharp selloff in the natural gas market. Likewise, a shift in forecasts calling for less intense temperatures contributed to the pullback. The September contract is now trading below $3.00/MMBtu, so such price has now become resistance. We have seen bargain hunting at this level; however, the degree of weather driven demand will dictate the next move.

Topics: ERCOT Heat Rates, Acclaim Energy Advisors, energy management consulting, Webinar, Weekly Energy Insights, natural gas


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