Why are natural gas prices drifting higher?

[dan_s]

Because it is HOT in Texas.

Looks like the spring refill ("Shoulder Season") is going to be much shorter this year. What this means is that the deficit to the 5-year average amount of natural gas in storage could get even larger in June. The traders are just starting to get nervous about this.

As I have repeatedly said in my podcasts, natural gas prices are set on regional markets. This region is much tighter than the consensus on Wall Street.