Natural Gas

dan_s · Post by **dan_s** » Mon Mar 09, 2015 2:18 pm

The "gassers" are selling down today because the front month (April) NYMEX contract is down ~16 cents per mcf. Mild weather is forecast for the next two weeks. HOWEVER, Joe Bastardi now forecasts that winter weather will return around March 20 and that the eastern third of the country will see record cold temps and lots of snow well into April. If so, natural gas prices my get a boost.

Cold temps late in the winter will also deplete heating oil supplies. The refiners have already switched over to making summer blend gasoline.

Watch Joe's March 7th update: http://www.weatherbell.com/saturday-sum ... rch-7-2015

If 200 bcf from is drawn from storage over the three weeks March 20 to April 10, it would be bullish for gas prices. The near-term outlook for gas prices is very weak, so anything will help.