The shale gas revolution in the United States has led to a collapse in prices but is too big to keep to ourselves. That is turning natural gas from a domestic market to a global one, and the global demand may cure the current low prices.
Crude oil fell as fears mount that Europe will fall into turmoil. Cyprus, the IMF and the European Central Bank hatched a plan to raise €5.8 billion from taxes on depositors by raiding their accounts to save Cyprus' failing banks.
Well a few tweaks to my model and we called the natural gas number right on the button. While my estimate was off of main stream expectations, the market hit a new high for the year on the 146bcf withdraw.