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Message
Good news on NG prices...
Posted on 10/12/12 at 9:18 am
Posted on 10/12/12 at 9:18 am
Natural Gas prices rising and expected to rise further:
LINK
Could end up saving a few companies that were looking down the barrel of the gun as the end of the year approaches.
quote:
Natural gas prices are poised for a third straight quarter of gains as U.S. power plants erode a supply glut by switching from coal at an unprecedented pace.
Gas may reach $4 per million British thermal units for the first time since September 2011 as winter heating demand picks up after mild weather a year ago, according to Mizuho Securities USA Inc., Bank of America Corp. and Tudor, Pickering, Holt & Co. Prices have jumped 8.7 percent to $3.488 since July as electricity generators used record amounts of the fuel.
quote:
Gas may exceed $4 “in periods of temporary tightness,” Sabine Schels, a commodity strategist at Bank of America in London, wrote in an Oct. 8 report.
The gas market “rebalanced quickly this summer, reducing the glut caused by overproduction and depressed winter demand. Stocks have built below the seasonal norm, alleviating concerns about storage containment,” she wrote.
Natural gas may reach $5 per million Btu in the first half of 2013 on elevated demand and improved economics, said Hussein Allidina, head of commodities research at Morgan Stanley, in a note to clients today.
LINK
Could end up saving a few companies that were looking down the barrel of the gun as the end of the year approaches.
6
Posted on 10/12/12 at 9:22 am to cwill
Posted on 10/12/12 at 9:46 am to cwill
This isn't good for industries that use NG as a source of power...
Posted on 10/12/12 at 9:54 am to cwill
Yay! I love paying more to Entergy! Be sure to post the good news when Cox raises prices.
Posted on 10/12/12 at 12:07 pm to cwill
quote:
Could end up saving a few companies that were looking down the barrel of the gun as the end of the year approaches.
Thank goodness. I found out last week that this Monday is the last day I can bill for (oil & gas landman), so I need some companies to start leasing/drilling again so they can put me to work!
Posted on 10/12/12 at 5:42 pm to cwill
Man, capitalism and the "invisible hand" are so bad-arse at resource allocation. I'm proud to be an American and am glad the government didn't try to switch the plants to wind power or something similarly asinine. Just give 'em time, i guess.
Posted on 10/12/12 at 8:35 pm to cwill
Some smart banks making these gas calls 
This post was edited on 10/12/12 at 8:36 pm
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