As I have posted here many times, The Wall Street Gang doesn't pay much attention to natural gas until after Labor Day. When they see that storage is 19% below the 5-year average and there is NO WAY to get back to (or even near) the 5-year average before winter start, it will get interesting.
Read this: https://www.investing.com/analysis/more ... -200341630
History Lesson: Natural gas prices spike when the utilities that deliver gas to your home get nervous about running out of supply during the coldest part of the winter. They are required by law to maintain pressure in the gas lines and the penalties for not doing so are severe. When utilities are forced into the spot market to get supply, the price of gas has spiked. All the planets are now in alignment for it to happen this December.
Today it looks like a repeat of the 2013/2014 winter, but even worse because storage level is below where it was on this date in 2013 and demand for the space heating fuel is much higher.
Natural Gas Prices - August 31
Natural Gas Prices - August 31
Dan Steffens
Energy Prospectus Group
Energy Prospectus Group