Over the last year or so, probably the most spectacular move in any energy-related market has been the collapse of natural gas (NG). The price of front-end futures in the commodity peaked in August last year at just a shade over $10 before turning tail and dropping to a low of just below $1.95 a month or so ago. A big move like that requires a perfect storm, of course, not just one factor. An unusually mild winter in most of the US reduced demand for gas used for heating and electricity generation, for example, and the expected shortage as Russian…
