Monday, August 14, 2023

US natgas prices remain a mystery

 


When we had the Oklahoma earthquakes, I was correlating with natgas prices, and then I tried to predict gas prices based on the upcoming weather.  I failed miserably at everything.  But I keep trying..

We have had a cold summer up in the NE US and Toronto.  Only BC is getting the warmth.  This has shoved the natgas prices way down.  However, by now they will have read my long-term forecast and the prices should be zooming up.  :)  Ha, nobody reads me.

The mechanism for a cold summer continues and we'll get an extremely cold winter, so we expect the prices to start to zoom, but the storage is full.  You only get the big price increases if they suspect the storage will run out.  I think Elvis Nino is stepping on the prices.  Anyway, it's something to watch.


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