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Natural Gas Producer Bearish Bets Jump to Three-Year High
Jan. 24, 2011 04:11AM PST
Oil and Gas InvestingBloomberg reports that Natural gas producers increase bearish bets to the highest in almost three years, joining hedge funds amid forecasts that near-record output will swell a fuel surplus.
Bloomberg reports that Natural gas producers increase bearish bets to the highest in almost three years, joining hedge funds amid forecasts that near-record output will swell a fuel surplus.
The market news is quoted as saying:
Natural gas for February delivery rose 4.1 cents to $4.736 per million British thermal units Jan. 21 on the New York Mercantile Exchange. It was the highest settlement since Aug. 4 and the fifth consecutive weekly increase. The contract added 5.9 cents to $4.795 in electronic trading on the Nymex at 8:54 a.m. London time today.