Replies to post #267 on Direxion Daily Natural Gas Re (GASL)

[RJ Trotts]

Meanwhile, natural-gas prices surged more than 5% on the back of a much-bigger-than-expected drop in weekly U.S. supplies.

http://www.marketwatch.com/story/crude-below-33-as-oil-prices-fall-to-lowest-in-over-a-decade-2016-01-07

February Brent crude LCOG6, -1.61% the global oil benchmark, fell 48 cents, or 1.4%, to $33.75 on London’s ICE Futures exchange. Prices settled Thursday at their lowest level since June 2004, according to FactSet data.

On the New York Mercantile Exchange, February West Texas Intermediate crude CLG6, -2.33% shed 70 cents, or 2.1% to settle at $33.27 a barrel on the New York Mercantile Exchange. It traded as low as $32.10 but also tapped a high of $34.26. Thursday’s settlement was the weakest since February 2004, FactSet data, based on the most-active contracts showed.

Fresh turmoil in China’s stock markets, a falling yuan and a string of weak economic data in recent months are seen as signs that the world’s second-largest economy is slowing at a time when the world is awash in crude. And worries surrounding China have contributed to a rout in global stock markets.

“Countries that see huge hits to measured wealth in the form of financial market crashes don’t tend to produce much growth in oil demand,” said Tom Kloza, global head of energy analysis at the Oil Price Information Service.