Natural gas futures plunged more than 8 percent, driven lower by separate government reports indicating that producers aren't curtailing output, despite low prices.
Natural gas for June delivery on NYMEX settled 8.5 percent, lower at 3.98 dollars per million British thermal units after reaching a low of 3.967.
More interesting then the Natural Gas futures sell-off was the behaviour of some natural gas related stocks like Delta Petroleum Corp. (Public, NASDAQ:DPTR) and SandRidge Energy Inc. (Public, NYSE:SD).
Delta Petroleum (DPTR) lost only 0.6%, while SandRidge Energy also held nicely losing 1.2%. This is an interesting divergence that leads me to think that these stocks are firm and ready to move higher again.
Related ETf`s: United States Natural Gas Fund, LP (Public, NYSE:UNG)
