12140 Wickchester Ln Suite #100, Houston, TX 77079
(877) 547-7275

Natural Gas Futures Climbing from Year-Low Price as Winter Approaches

Natural gas futures continued their steady climb from year-low prices in October during trading on the New York Mercantile Exchange, where natural gas for November delivery increased 6.9 cents, or 2 percent, to $3.6000 a million British thermal units.

Analysts attribute rising gas futures to the anticipation of rising demand this winter. Futures prices were recently down 28 percent from the 2011 calendar high but market watchers say the price has bottomed out and that a bump should be expected, despite a recent U.S. Department of Energy report that found natural gas inventories to be much higher than expected. Analysts say that, regardless of inventory storage, the coming winter months should drive prices higher.

Consensus is building among market watchers that traders shorted the market — when futures prices dove 3.5 percent — in anticipation of a bearish report a day before it was released. Once the numbers were published, insiders say, a second wave of selling hit the market and forced prices down.

Analysts say that futures prices will continue to rise and that the time for shorting the market may be over.

“The downside could be running out of steam,” TD Securities said.

Sources

“US GAS: Gas Futures Continue Recovery From 2011 LowsThe Wall Street Journal, Oct. 14, 2011.

Translate »

WAIT!

Here’s a chance to get 200 points every month in Spark Energy Rewards*

Points can be used on local shopping deals, dining, daily deals, travel,
and even gift cards. Terms for the rewards can be found here.
Interested?

*Certain Terms and Conditions apply. This offer is available to first-time customers only. Customers must sign up for a fixed-rate energy plan. The plan may include a monthly service fee depending on the product. Use promo code which is showing above to qualify. Rate expires at the end of the term. Canceling or changing supply service prior to the end of the fixed-rate term may subject the customer to an early termination fee based on the product details. To be eligible to receive Spark Energy rewards, customers must enroll in a fixed term plan and maintain an active Spark Energy account in good standing (no past-due balance owed) for 45 days after the beginning of service. May not be redeemed for cash. This offer is subject to change or cancellation without notice prior to customer acceptance. This offer is nontransferable and cannot be combined with any other offers. This offer applies to services areas where Spark Energy LLC is active. The offer expires on 12/31/2020. See the Terms of Service and Electricity Facts Label (applicable only for TX) at www. SparkEnergy.com for more details.
© 2020 Spark Energy LLC. All Rights Reserved.