Pickens sees oil, natural gas prices falling

NEW YORK (Reuters) – Oil investor T. Boone Pickens said on Thursday he has a short position on oil and natural gas due to his expectation that prices will fall in the near-term.

Pickens, speaking on CNBC television, said he expects the price of oil to fall $10 a barrel to $15 a barrel in the second quarter from the $100 level it hit on the U.S. market this week. But he said he expects the price of oil to be back above $100 a barrel in the second half of year.


He also called natural gas prices unusually high and said he expects them to “back off also.”

Reuters