How high will the natural gas price go???
Posted: Wed Jul 21, 2021 7:12 pm
Trading Economics
7-21-2021 after the markets closed
"US natural gas futures extended gains to trade above $3.9 per million British thermal units, the highest since December 2018 on expectations of growing demand for air-conditioning amid forecasts for hotter than expected weather over the next two weeks. Natural gas futures have also been supported by strong demand for US exports of liquified natural gas as global gas continues to trade above US prices. Gas demand has been rising from China, Europe, Brazil, where droughts added to the competition by curtailing power output from hydroelectric dams, Canada and Pacific Northwest. Particularly in Europe, buyers on the continent have struggled to replenish tanks that are at the lowest for this time of year in a decade."
Mother Nature is in charge and she is giving the gassers a nice gift. My forecast is that JAN22 NYMEX contract goes over $5.00/MMBtu by October.
7-21-2021 after the markets closed
"US natural gas futures extended gains to trade above $3.9 per million British thermal units, the highest since December 2018 on expectations of growing demand for air-conditioning amid forecasts for hotter than expected weather over the next two weeks. Natural gas futures have also been supported by strong demand for US exports of liquified natural gas as global gas continues to trade above US prices. Gas demand has been rising from China, Europe, Brazil, where droughts added to the competition by curtailing power output from hydroelectric dams, Canada and Pacific Northwest. Particularly in Europe, buyers on the continent have struggled to replenish tanks that are at the lowest for this time of year in a decade."
Mother Nature is in charge and she is giving the gassers a nice gift. My forecast is that JAN22 NYMEX contract goes over $5.00/MMBtu by October.