NYMEX Henry Hub Crashing and Burning – Lowest Close in 30 Months

We consider $2/MMBtu to be "the basement" when it comes to the price of natural gas trading at the nation's benchmark Henry Hub in southern Louisiana. Yesterday we almost hit the bottom of the basement, with gas closing at $2.03. What happens if gas (gasp) closes below $2? Do we call that the sub-basement? Are we breaking through the barrier and right down into hell? Whatever you call it, prepare yourself. Why did gas tumble again yesterday to a new 30-month low? And will it go lower?

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