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In its latest monthly Short-Term Energy Outlook (STEO), the U.S. Energy Information Administration (EIA) makes a startling prediction. EIA now says it expects the Henry Hub (HH) spot price to average $7.83/MMBtu in 2Q22 and then (gasp) it will average $8.59/MMBtu during the second half of 2022. Yesterday's HH price jumped $.036 to close at
A historic runup in the NYMEX futures price for natural gas is turning into a historic drop in price. Over the past two trading days, last Friday and yesterday (Monday), the NYMEX price dropped $0.74 and $1.02 respectively for a total drop of $1.74. The reason for the drop appears to be an increase in
Spending patterns. people are not driving markedly less just yet. they're still spending money on food. by the way, we're approaching the peak summer driving season. right now what you've got is a situation where the current state of the economy, jose, is the culmination of what experts say is a decades-plus situation. the asset prices, commodity price, raw materials prices have all gone up because of that. then you add on to that, jose, all the various taxpayer spending plans we've seen even outside the pandemic, and all of that has kind of caused this current environment that we're in. >> yo...
Price inflation is a vicious thing. Once it gets going, it's hard to stop. Much of the current situation of high prices (for everything) can be laid at the feet of our politicians in D.C. who dumped enormous amounts of money into the economy by simply printing it ($1.5 trillion
Wow! This is getting interesting...and scary. The NYMEX futures price of natural gas for the current "front month" contract soared another 37 cents yesterday to close at $8.78 per MMBtu. Another 14-year high. It certainly looks as though the price will soon blow by $9/MMBtu. One expert says "we feel we easily can go over