Natural gas futures drop below $2 for the first time since Jan. 2002, as weak demand and robust production have sent prices sliding 33% YTD. While the number of working U.S. gas rigs has fallen 27% Y/Y, gas output remains high because most wells produce a mix of oil and gas regardless of classification; high oil prices thus often effectively subsidize the cost of continued gas production.
Natural gas futures drop below $2 for the first time since Jan. 2002, as weak demand and robust...
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