Natural Gas rises 2 % Sept 4 2007
Hurricane passes by the Gulf Coast but 15 more on their way ///
Natural Gas would have gone down today but a report put out by the University of Colorado predicts about 15 more hurricanes this year. The potential for one of these hurricanes to knock out a refinery or rig in the gulf coast is a possibility. With this fear is a frantic natural gas traders market with energy buyers and sellers speculating on high octane emotions. The volatility of the Natural Gas market is always something to watch in utter awe as the slightest thing triggers some amazing spikes in both the natural gas futures and electric prices.
Natural gas trend for the last 6 months ///
We have seen a trend since May as Natural Gas has dropped lower and lower reaching prices under $6 MMBtu. These prices have caused electric rates in Texas to be worth drooling over. Just today a large commercial facility locked in an electric rate for 6.9 cents KWh on a 12 month contract. Considering rates were right below 10 cents kwh in the not so distant past we would be quick to jump on this price if we had an opening in our energy contract to do so.
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