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Repeat Performance: Nat Gas Tumble

November 13, 2023

Office worker sitting at his desk with a stressed expression.


Nat gas bulls are probably not smiling.  From a six-month high of $3.58/mmbtu on Halloween to $3.03/mmbtu on November 9, Henry Hub spot natural gas prices have taken their second substantial retracement in one month.  On October 11, the benchmark hit  $3.38/mmbtu, then a six-month high, only to slide to $2.90/mmbtu by October 20. 

Commodity trading advisor Stephen Schork of The Schork Report writes that gas and power bulls are likely to face a third consecutive bearish season this winter.  Ample gas in underground storage is teaming with mild weather El Niño pattern to make the bearish case.