COTD: Nattie Out of Gas?
COTD = Chart of the Day
Oh, Nattie, you beast! You are the “widow maker.“. You have hurt us so many times.
Natural Gas
US natural gas futures capped a fourth monthly loss in February after prices plummeted to lows not seen since June 2020. An unusually mild North American winter has dampened demand for the home-heating fuel as production soared, prompting the longest streak of monthly declines for gas contracts since the beginning of the pandemic. Analysts expect prices to remain depressed for awhile, given that forecasts show unseasonably warm weather for much of the next month. Meanwhile, US inventories continue to hover well above typical seasonal levels, with stockpiles in the latest week sitting about 27% above the five-year average — adding further pressure to prices. – Bloomberg
Source: https://global-macro-monitor.com/2024/03/03/cotd-nattie-out-of-gas/
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