Natural Gas and Propane prices are going a lot higher
Posted: Wed Feb 10, 2021 7:03 pm
Watch this: https://weather.com/storms/winter/video ... io-edit-pm
Take a look at the NYMEX Strip. HH gas contracts for July to Dec are all higher than where the March contract closed today. All over $3.00.
Why? Because we have enough gas to make it through this winter, but refilling storage before the next winter will be close to impossible and traders are figuring it out. Utilities might already be bidding up the out month contracts because they see what's coming.
By the time we get to the end of April, gas in storage will be way below where it was a year ago.
Take a look at the NYMEX Strip. HH gas contracts for July to Dec are all higher than where the March contract closed today. All over $3.00.
Why? Because we have enough gas to make it through this winter, but refilling storage before the next winter will be close to impossible and traders are figuring it out. Utilities might already be bidding up the out month contracts because they see what's coming.
By the time we get to the end of April, gas in storage will be way below where it was a year ago.