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Natural Gas Is Now a Value Buy for End Users

By Jim Wyckoff

 About this article:
 This week, natural-gas futures for September delivery on the New York Mercantile Exchange (Nymex) dropped to a fresh seven-year low of $2.86 per million British thermal units. Robust U.S. supplies that will likely reach a record level this autumn and a mild overall U.S. weather outlook are the two main bearish fundamental factors driving natural-gas futures prices down. Natural Gas -- Monthly Source: FutureSource.com and TradingEducation.com Domestic natural-gas storage levels at present stand at 3.2 trillion cubic feet, according to a weekly report released Thursday by the U.S. Department of Energy. That's 21% higher than storage levels seen one year ago and 19% above the five-year average U.S. natural-gas storage level. The price gap between U.S. natural gas and Nymex crude oil futures this week reached the widest margin ever, at around 24 to 1 on...

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