DJ Bearish Reality Pierces Natural-Gas Rally -- Market Talk
14:46 EDT - Natural-gas futures rebounded more than 15% in 2 weeks amid a host of short-term factors including
technical strategies, a warm spell and traders closing out shorts. During that time, increasingly bearish
supply-and-demand realities were ignored. It seemed to catch up with the market today as the US is on pace to shortly
enter into a supply surplus for the first time in 18 months, according to several analysts' projections, finally
erasing the severe deficit created by huge gas-fired heating demand during early 2014's brutal winter. "We're producing
more gas in the market than we're burning," notes Gelber & Associates' Aaron Calder. Nymex June futures fell 2.7% to
$2.802/MMBtu. (christian.berthelsen@wsj.com)
(END) Dow Jones Newswires
May 11, 2015 14:46 ET (18:46 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
051115 18:46 -- GMT
------
No comments:
Post a Comment