Until last week, active month NYMEX natural gas futures had not traded below $2.60 per mmbtus since June 1, 2015. However, last Monday, natural gas came to a fork in the road. Last week, Yogi Berra, the great Yankee catcher, baseball manager and philosopher passed away. Yogi once said, "When you come to a fork in the road... take it". Last week natural gas did just that, and it went lower.
$2.60 could not hold
So far, I have been wrong about natural gas. I guess Yogi said it best when he said, "We made too many wrong mistakes." Natural gas traded down to lows of $2.521 on the active month October contract, which is now expiring and rolling to November.
