Thursday, February 10, 2011

Natural Gas: Huge Drop in Storage But Contango Rules; UNG

Natural gas inventories showed a very large drawdown of 209 Bcf today.

Current storage levels are now below last year, as well as below the 5-year average, please see above chart. The situation would be quite bullish for natural gas prices, however, there is a the terrible UNG-destroyer contango in effect.

Stumble Upon Toolbar

No comments:

Financial TV

Blog Archive

// adding Google analytics