Volatile NYMEX Natural Gas Price Falls 9% in Single Day

Yesterday MDN brought you the news that on Wednesday, the NYMEX price of natural gas soared 10% in a single day, due largely to the threat of a nationwide rail strike that would limit coal shipments to electric generating plants, causing huge demand for natural gas (see Volatile NYMEX Natural Gas Price Jumps 10% in Single Day). During the day yesterday, the railroad union announced a tentative deal and called off the strike. And just like that, the price of natural gas dropped like a rock--down 9% in one day.

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