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GAZB - Natural Gas Corrects - Let The Wild Ride Begin
Barclays Bank PLC
After rising to a high at $2.905 per MMBtu on the December NYMEX natural gas futures contract on November 5, the price pulled back below the $2.60 level at the end of last week. The $2.905 peak was the highest price level for the energy commodity since late May.
Natural gas rallied because of a wave of cold weather that descended on broad areas of the United States over the recent days. At the same time, with the end of the injection season on the horizon, the price of natural gas was positioned for a