Natural gas prices are set to close out the year down by about 25 percent, and unlike crude oil, there is not a lot of confidence in a rebound. Record levels of production and mild temperatures have left the gas market in the U.S. well-supplied. After running down to exceptionally low levels a year ago, U.S. gas inventory levels have shot back up to the five-year average in 2019. That means that the U.S. enters the peak winter demand season with plenty of gas on hand. Major investors are pessimistic about the odds of a rebound in prices. Hedge funds and other money managers have amassed the largest net-short positions on gas futures since 2008, according to the Wall Street Journal . That means that investors and speculators are betting that prices will continue to fall. “We’re still in an oversupplied situation,” Kent Bayazitoglu, director of market analytics at […]