Economics
Natural Gas Trading Range Narrows to 8-Year Low: Energy Markets
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Natural gas is trading in the tightest range in eight years as rising U.S. production pushes inventory levels close to last year’s record, undermining profit for traders who thrive on price swings.
The fuel has stayed between $3.52 and $6.108 per million British thermal units this year, the smallest difference since 2002, amid government forecasts for U.S. production to reach the highest levels in 37 years. Gas may average $4.35 in the fourth quarter, according to the median estimate of 15 analysts surveyed by Bloomberg News, up 2.7 percent from the previous three-month period.