GAZB - Natural gas gas-focused stocks plunge on warm weather worries
Natural gas futures (NG1:COM) -8% to $2.757/MMBtu, by far the worst performer among major commodities, as milder autumn forecasts cause concern that a warm winter will crush heating demand.The U.S. likely will experience mild conditions with only a few cool shots through the end of the month, Commodity Weather Group says, which forecasts the number of heating degree days at 275 compared to a 10-year average of 316.Gas-focused equities trade with broad losses: [[COG]] -4.2%, [[RRC]] -7.3%, [[AR]] -6%, [[SWN]] -4.4%, [[EQT]] -7.1%, [[CNX]] -5.2%.Natural gas surged to the highest in nearly two years just last month, helped by speculation that supplies would be tight this winter after falling oil prices caused drillers to rein in gas output from crude-rich basins.ETFs: [[UNG]], [[UGAZF]], [[DGAZ]], [[BOIL]], [[FCG]], [[KOLD]], [[UNL]], [[GAZ]], [[GAZB]]
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Natural gas, gas-focused stocks plunge on warm weather worries