The futures of the natural gas dropped off to an unpreceded level recently due to the large stock list and half-hearted demand, persisted to force the cost to fall down. In the New York Stock Exchange, the natural-gas price for the November was around $ 3.431 for a million British thermal unit and this was considered as the most unhopeful price since 2009 2009 September and the bench mark agreement was turned 30 percent downwards since the August. During this period of time every year, the market price will experience huge demand and the increasing stocktaking are conducting stifled rallies but the market contributors envisage that, the supply in the coming coming months will be increase heavily. Tom Saal, the vice president of the energy trading at Hencorp Futures declared that, the downfall in the market is due to the speculators and the buyers are waiting for the right time.
The reports revealed by the analysts on the futures of natural oil gas that showed, the price of the natural oil and gas was hit hard by huge losses and the United States administration of Energy Information announced that, the inventory of the natural gases gained by 91 billion cubic feet recently. Gene McGillian, an examiner with the Tradition Energy showed that, the natural oil & gas markets are currently recovering from its down turn and the inventories rose above average for five consecutive days. The price of the natural gas & Oil storage in the United States till October eight was around 3.590 trillion cubic feet, this amount is 7.4 percent greater than the five year average and it is 3.2 percent below the previous year's index. In the recent years the natural oil resource and gas manufacturing level is increased and the demand for the natural oil has been retarded because of the presence of surplus production of energy from the unconventional shale gas.
The unpractedented drop in the stocks from the past one year, the Hedge funds started to cut back their rising bets on the natural oil source and in the Commodity Futures Trading Commission hebdomadal report published for the dealers described that, the investment companies and behemoth speculators started to bend down wagers at a rapid rate, around 36 percent of the wagers were cut. The Baker Hughes Inc. released a report on the oil rigs which disclosed that, in the United States the number of oil rigs was increased from 721 to 966. The Department of energy declared that, this year the gas yields will be around 61.29 billion cubic feet per day.