Natural gas prices are ticking up, now that the consensus forecast is for another cold winter. It’s funny how forecasters flip and flop, isn’t it? At about the same time the CDC was saying there wouldn’t be an Ebola outbreak on U.S. shores, national weather service forecasters were calling for a cold winter, and natural gas prices were staying low.
But many of us in the commodities businesses, like oil and gas, employ our own meteorologists to get a better (and more accurate) picture on things, and ours said it would be cold again, particularly in the Northeast. We didn’t rebuild gas storage this summer to normal levels, so if we hit another cold one, you could see a price jump above $5 for the short term, but probably not for a long-term trend.
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