Thursday, July 11, 2013

Dennis Gartman bearish on Natural gas

The only thing that will help natural gas is hot weather through the summertime. The problem with natural gas is that we are finding so much more, every single day through fracking processes – even more than we are finding crude oil. The supply is just huge. And it's going to get larger and larger over time. It's going to be very difficult for natural gas to get above $4 per mmbtu [million British Thermal Units]. If it does, it will only be fleeting in nature, as it will quickly be hedged away. I'm rather openly bearish of the natural gas market at this point.