Quote:
Originally Posted by VRPdommy
The price of manipulation....
Nat Gas has been so plentiful they can't find ways to export it fast enough.
So someone explain this price spike... (futures market)
Still believe in the supply/demand fairy tale !
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but of course that can be explained by supply and demand.
i'm not really up to date on oil and gas prices now, but i can tell you what caused the jump (which is not so unusual if you look back until 2014 or 2003).
New weather forecast models pointed to temperatures in mid-November, which are more typical for mid-December, with cold spells in the Midwest, over Texas and the south, and all over New England.
Natural gas prices usually rise before winter, as colder weather increases the need for heating.
In the heating period from November to March, the greatest demand for US gas prevails, as consumption then skyrockets abruptly.
Meanwhile, market participants were looking at the data published in the 46th week.
According to the U.S. Energy Information Administration, the total amount of stored natural gas was 3,208 trillion cubic feet (tcf), the lowest level at this time of year for about 15 years.
The last time that stocks were so low in the first week of November dates back to 2003.