Natural Gas Joins WTI Crude In Race To Bottom In Energy (Natural Gas Rigs Dropping)

Well, natural gas is joining West Texas Intermediate Crude Oil in a race to the bottom … for energy.

The NYMEX Natural Gas Index is down over 6% this morning.

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And the natural gas rig count keeps falling.

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No, it wasn’t the much publicized global carbon-emissions deal reached this weekend. The deal lacks enforcement language, although Secretary of State John Kerry touted the pact as a jobs creator.

Just not in oil and natural gas. Or coal.

Energy companies are prominent among the most distressed corporate bonds.

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Helping send the CCC and lower High Yield … Yield shooting up.

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Here is the Markit Energy 5Y CDS showing its rise with declining WTI Crude and Natural Gas prices.

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