NYMEX CONTINUES TO DROP

Posted Tue, 07/14/2009 - 09:31 by karen

The August NYMEX gas futures contract dropped to its lowest front-month close since April 27, loosing 11 cents to settle at $3.263/MMBtu on Monday. With the hot temperatures in Texas, in the South and all those areas, but in the big consuming regions it is not. There is a good chance the market will drop below $3 without any significant demand drivers occurring.