Cookies on the Business Insider India website

Business Insider India has updated its Privacy and Cookie policy. We use cookies to ensure that we give you the better experience on our website. If you continue without changing your settings, we\'ll assume that you are happy to receive all cookies on the Business Insider India website. However, you can change your cookie setting at any time by clicking on our Cookie Policy at any time. You can also see our Privacy Policy.

Natural Gas Has Been Getting Destroyed

Rob WileFeb 26, 2014, 02:22 IST

One day after seeing their biggest fall in six years, natgas futures climbed down another 8%, signaling the imminent end of the February rally.

Contracts for April delivery fell about 7% to close under $5/mmBtu for the first time in more than a week.

"As the more medium-to-long term picture of an oversupplied market is still intact, it shouldn't be entirely surprising that a sharp and volatile giveback has manifested out ofa near doubling of prices since early November 2013," TD Securities' Mark Dragosits said in a note.

Chart:

FinViz