United States Natural Gas (NYSEArca: UNG) sank 4% last week, which has many wondering if the fuel is in for a quiet winter.
U.S. energy producers have come out and said it: natural gas prices are so low now that it’s almost not worth continuing production at such levels, says Jack Z. Smith for the Fort Worth Star Telegram. Low prices may not improve anytime soon, either; energy analysts generally seem to agree that prices will be modest through most of next year, although small gains are possible. [4 ETFs for Fall.]
On the flip side, some believe that the lows have been tested and natural gas has seen the floor. But even natural gas CEOs are bearish on their fuel. Chesapeake Energy (NYSE: CHK) CEO Charles Maxwell says he doesn’t believe natural gas prices will break above $6 until 2014. Visit our natural gas category for more stories.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.