Energy

Natural gas is one of the few trades that hasn’t worked, down 50% in 12 months

0


Pretty much every trade has worked on Wall Street this year except one: natural gas.

Futures prices fell to a one-month low on Friday after plunging more than 12% for the week. The commodity is currently trading around $2.34 per million British thermal units, which is nearly 50% below where it traded a year earlier. It’s down 21% for 2019.

Excess supply is pressuring prices. Inventory built up last spring following a warmer-than-expected winter, and U.S. production has climbed to a record high, according to data from the U.S. Energy Information Administration.

A milder fall season is also having an impact on prices. According to Credit Suisse, temperatures since September have been 4%…



Source cnbc.com

A French fry shortage could be coming after weak potato harvest

Previous article

Here’s everything investors need to know ahead of Britain’s election next week

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Energy