When will NG price hit $5.00
We are seeing a new trend of earlier and colder Winters. The price of NG is starting to climb. The question is: When will the price hit $5.00. May be before March 1st. Any other guesses?
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Replies to This Discussion
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Permalink Reply by Krkyoldhag on
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I attempted to open a discussion Oldtimers remininces...
I could not figure how to cut and past the earliest comments from this discussion.
Let's see it it flies.
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Permalink Reply by jim weyland on
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fwiw, in today's "afterhours" trading, the contract, as of 5:45pm, sunday is up $0.0823/MMBtu to $5.265/MMBtu.
note: it was down $0.02+ in friday's "access" or afterhours trading
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Permalink Reply by jffree1 on
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KOH,
Click on the "options" box at the top right. Then click edit. Make your changes and then save. You can add or change, as you please. You are the editor of that discussion.
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Permalink Reply by Krkyoldhag on
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Thanks..I will need lots of help with this collection of memories.
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TC,
I Agree with your comments.
I am just hopeful that the storage capacity is not that easily replenished. Let's just keep our fingers crossed.
Anyone one know what a good source is to get historical prices on NG. I would like to do some research on it over the last 20 years and want more than just the highs and lows of the year. Furthermore where can I go to research the historical storage capacity.
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Permalink Reply by tc on
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Go to the below website. On the right hand side under Data Highlights click on the titles "Natural gas futures prices" or "Natural gas storage". This website is a treasure trove of data, all in different formats.
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Permalink Reply by Keith Mauck (Site Publisher) on
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http://www.bloomberg.com/news/2014-01-27/u-s-east-set-for-another-a...
U.S. Set for More Arctic Cold as Natural Gas Prices Surge
The U.S. will get another blast of freezing Arctic air this week, bringing snow and sleet as far south as Texas and helping push natural gas to a four-year high.
“A very strong cold front will be bringing frigid conditions back to the central and eastern U.S.,” the Weather Service said in a bulletinon its website at 3:01 a.m. eastern time. Subfreezing highs are expected “well into the Deep South,” with snow, sleet, and freezing rain expected by tomorrow near the Central Gulf Coast and becoming heavier over the Carolinas.
“This rare winter storm will make many people who love snow very happy,” according to the report.
January is on track to be the coldest month of the century in the lower 48 states, according to Commodity Weather Group LLC, after waves of freezing air swept across the country. Natural gas rose for a fifth day in New York and was poised for the highest close in almost four years, while heating oil traded at the highest prices in almost five months. Wheat rose on speculation that the freezing weather will harm crops.
Four of the 10 coldest days of the 21st century in the contiguous U.S. states occurred this month, Matt Rogers, president of Commodity Weather Group in Bethesda, Maryland, said last week. Chicago was colder than the South Pole at the start of the month.
“The big picture cold pattern is still the main story over the next few weeks as significant high latitude ridging from the Bering Sea to the Pole and even dipping more toward Greenland now helps send significant cold air south through North America,” the College Park, Maryland-based weather service said today in a report.
Gas Prices
Natural gas for February delivery advanced as much as 5 percent to $5.442 per million British thermal units on the New York Mercantile Exchange, and was at $5.275 at 12:19 p.m. inLondon. The volume of all futures traded was more than four times the 100-day average. The contract jumped 20 percent last week, the most since October 2010.
Gas inventories dropped by 1.386 trillion cubic feet to 2.423 trillion from Oct. 31 through Jan. 17. The drop was 50 percent more than the five-year average decline of 927 billion for the period, Jose Villar, an analyst with the U.S. Energy Information Administration, said in an e-mail Jan. 23. It’s the fastest pace of withdrawals on record for the period, he said.
Chicago will have a low of minus 12 degrees Fahrenheit (minus 24 Celsius) today, 30 degrees below normal, according to AccuWeather Inc. in State College, Pennsylvania. The high for the day will be minus 3 degrees. Boston’s low today will be 13 degrees, nine degrees below the average. There is a chance for rain or a snow shower in East Rutherford, New Jersey, during the Super Bowl on Feb. 2, with temperatures around normal at 24 degrees.
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Permalink Reply by Krkyoldhag on
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It was meeeeeee!!!!! For a krakryold one I did it. MEEEEE!!!! I predicted $5 by end of January way back on dec 1.... not very often I right. Never seem to get the football scores right.
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Krkyoldhag,
CONGRATULATIONS!!!!!!!!!!!!!!!!! Now perhaps you could assist Groundhawg with his upcoming prediction.
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Permalink Reply by Joe Aldridge on
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It looks like there is profit taking this morning. I would assume that afternoon the price will spike. I think we may see $6.00 by the end of the week.
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Permalink Reply by Krkyoldhag on
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:You might be right. 6 soon. People who heard the pitch last night for natural gas fueling stations...and NG vehicles...know that somethign that should have been done 3 or more years ago.
Think about it..natural gas trucks across the country and one in our garages. Someone will realize this first good idea this guy has had in long time.
When people tell me that all this will "take time" I hark back to how fast our streetcars and rails were replaced by busses gas powered on rubber tires.
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Permalink Reply by Randy Peterson on
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There are some articles on natural gas prices and the impact that reduction in oil prices might have at www.chemplants.com Also a list of new petrochemical projects that will use natural Gas.
Randy Peterson
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