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Started By
Message
Natural gas soars as cold grips nation
Posted on 1/26/14 at 4:13 pm
Posted on 1/26/14 at 4:13 pm
LINK
NG producer's, those who have production up and running, finally have a reason to smile.
quote:
The price in the futures market soared to $5.18 per 1,000 cubic feet Friday, up 10% to the highest level in three and a half years. The price of natural gas is up 29% in two weeks, and is 50% higher than last year at this time.
quote:
In some producing regions in Pennsylvania gas was selling for below national benchmarks Friday, But closer to East Coast cities it was selling for 10 times those benchmarks because producers couldn't get their gas into packed pipelines, according to Citibank energy analyst Anthony Yuen. When the Calvert Cliffs Nuclear Station in Maryland shut down earlier this week because of an electrical problem brought on by snow and ice, power generators across the East Coast scrambled to replace the lost power by cranking up natural gas-fired plants. That sent natural gas prices for immediate delivery, known as the spot price, to a record $120 per 1,000 cubic feet in some markets on the East Coast. To put that in perspective, that's equivalent to oil at more than $700 per barrel.
quote:
Analysts say there is plenty of gas to replenish supplies, and drillers will likely ramp up production so they can fetch prices they haven't seen since June of 2010. That could push prices back down somewhat in the coming weeks. If, that is, the weather warms up later in February and March. If it's still cold when baseball season opens in early April, though, Schork says, "we'll be looking at much higher natural gas prices."
NG producer's, those who have production up and running, finally have a reason to smile.
Posted on 1/26/14 at 4:58 pm to L S Usetheforce
I'd like for the NG players to jump in here. Is now the time to short?
Posted on 1/26/14 at 5:20 pm to smoke4life
Hmm...it's almost as if prices spike coinciding with increases in demand, incentivizing the production of greater supply... No, that's just crazy talk. FORWARD!!!
*This commentary comes to you from your local poliboard.
*This commentary comes to you from your local poliboard.
Posted on 1/26/14 at 5:44 pm to smoke4life
Not on the market side of this:
I work for a power generation company. We had a mediocre year, but this pretty much guarantees a great 4th quarter for us which means we will hit our EBITDA targets. Our 15% bonus for corporate employees is based on making this target. While this weather has been a headache for me personally, I'm celebrating on the inside.
I work for a power generation company. We had a mediocre year, but this pretty much guarantees a great 4th quarter for us which means we will hit our EBITDA targets. Our 15% bonus for corporate employees is based on making this target. While this weather has been a headache for me personally, I'm celebrating on the inside.
This post was edited on 1/26/14 at 5:46 pm
Posted on 1/26/14 at 8:56 pm to smoke4life
farmers almanac was right
I shoulda got in a couple months ago
I shoulda got in a couple months ago
Posted on 1/26/14 at 9:10 pm to I Love Bama
quote:
I'd like for the NG players to jump in here. Is now the time to short?
Not quite yet.
Posted on 1/26/14 at 9:18 pm to smoke4life
Long term market fundamentals haven't changed. The U.S. has more gas than it knows what to do with. The rig count on gas plays has dwindled over the past two years and gas production has still grown due to associated gas in tight oil. I'd expect NG prices to return to normal levels shortly.
This post was edited on 1/26/14 at 9:19 pm
Posted on 1/26/14 at 10:30 pm to I Love Bama
quote:I think if you shorted at $5 NG you'd get slaughtered this week. Next week maybe
I'd like for the NG players to jump in here. Is now the time to short?
Posted on 1/26/14 at 11:35 pm to smoke4life
bus has passed. too late on this one
Posted on 1/27/14 at 11:01 am to jimbeam
quote:
farmers almanac was right
I never doubt the Almanac........and I played and made out pretty good.......sold boil last week too early and missed out on about 10 grand but still made 7.
This post was edited on 1/27/14 at 11:04 am
Posted on 1/27/14 at 11:16 am to L S Usetheforce
quote:
L S Usetheforce
Didn't you get in KOLD recently? I've been watching and it seems to have finally hit it's bottom at $46, had had a nice jump today.
What do you think?
Posted on 1/27/14 at 11:36 am to L S Usetheforce
I'm going to look at it more closely this year
Posted on 1/28/14 at 8:25 am to rintintin
(no message)
This post was edited on 1/28/14 at 8:34 am
Posted on 1/28/14 at 8:32 am to PropofoLSU
Yeah I bought Kold at different price points.......I bought 300 @ 46.50, 100 @ 51.08, and 200 @ 55 something.
600 shares total of Kold at like 52
600 shares total of Kold at like 52
Posted on 1/28/14 at 9:55 am to L S Usetheforce
How high do you think it can go? Seeing that it is cyclical do you think back to 80's or 90's?
Posted on 1/28/14 at 10:21 am to rintintin
It can go to 110.......I'm gonna sell at 85
Posted on 1/28/14 at 10:27 am to L S Usetheforce
In at 49. We shall see.
Posted on 1/28/14 at 10:33 am to rintintin
You don't have to stay in till 85 with me but I will bet you a case of belgian beers that it goes to 75 by end of March.
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