why no sp movement, page-67

Last week, natural gas prices dropped as low as $3.50 per million British thermal units (BTUs). That’s as low as prices have been in nearly seven years. In fact, $3.50 is widely regarded as the “shut in” price for natural gas. That’s the price at which natural gas drillers are better off closing down the well than continuing because it costs more to extract the gas than what the drillers can sell it for.

In other words, natural gas cannot fall much below $3.50 before drillers start shutting wells.