Natural Gas in storage remain above historical levels
Natural Gas stays above or near the maximum storage levels
Because Natural Gas has kept itself above the historical storage levels in the last few months we see that prices are also staying below $6 MMBtu. If there hadn’t been the terrorist sabotage on the natural gas pipelines in Mexico we wold never have seen that short spike in gas prices earlier this week. Prices came up for a day or two but we are waiting to see if they will come below $6 MMBtu again. It looks like those energy traders who covered there shorts are not yet ready to sell back.
Natural Gas prices are way up as of today at $6.175 MMBtu. Hopefully they will again drop below $6 MMBtu but we have had a good run now for awhile and if this is the end of the drop in prices I would not be suprised. The after shocks of the pipeline explosion in Mexico is staying with us probably for the next couple of weeks.