There is justification for concern about natural gas prices at these levels. Prices now are essentially twice what they were last winter. That's likely to squeeze consumers.
More Quotes from Jason Schenker:
A couple of weeks ago we saw prices were moving toward 70 again. This is a very volatile marketplace but I think on the whole we are likely to see the average price this year higher than last year.Jason Schenker
The gain in distillate was unexpectedly large, which should eventually weigh on the market. Distillate increased because a decline in demand coincided with an increase in imports.
Jason Schenker
The most disconcerting part of the PPI report today was the rate of final core producer price pressures in January.
Jason Schenker
I totally expect to see 50 a barrel, at least in a spike to that level, at some point in the near future. We've been in an upward trend for several years, and I really don't see any indication of a reversal of that trend. 50 a barrel is a completely rational expectation.
Jason Schenker
Given OPEC's decision to keep quotas unchanged, Iranian guarantees of oil supply and U.S. statements excluding the possibility of oil sanctions, crude is poised to fall next week.
Jason Schenker
This warm weather is lowering demand for natural gas and heating oil. What the market does is all in the hands of the weatherman.
Jason Schenker
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