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Permalink Reply by JAMES SMITH on June 2, 2010 at 5:50

No it hasn't

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Permalink Reply by GEORGE D BROCKNER on June 2, 2010 at 10:32

This bump is due to the cold snap we're experiencing.

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Permalink Reply by S.H.M. on June 2, 2010 at 10:33

LOL. Oh, is it only 100 over there today? grin

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Permalink Reply by Parkdota on June 2, 2010 at 10:56

Prices are being affected by recent tropical/hurricane season reports (strong/above normal), warm weather reports (long/hot summer above normal), and a reaction to the GOM situation. Natgas and oil prices will be affected by GOM moratorium (may not be seeing it now) as we get 15% natgas & 24% oil from the GOM. That means we'll have a 6 month moratorium on permits, one month stoppage prior to that, and add in several months for new permits, drill time, and decline rates on existing wells. Basically it could be one year lag time without new injections which account for the 15% & 24% as noted above. Also, once rigs leave for new work they will have a lag time in getting back to the GOM. Now that doesn't mean prices won't be affected by other things causing ups/downs but the GOM situation will have some affect. If new natgas injections are down roughly one year math dictates a 15% change in supply. In summary, the weather is believed to be the mover of natgas prices currently with the moratorioum having an effect at some point.

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Permalink Reply by G. Knomes on June 3, 2010 at 16:59

not yet - supply and storage is still significant.

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Permalink Reply by red rider on June 3, 2010 at 18:58

http://www.texasenergyanalyst.com/News_and_Predictions.html

this guy has a very accurate prediction record. worth a look!

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