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Topic: Natural Gas (Read 172 times) previous topic - next topic
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Natural Gas

Natural gas is painting a golden cross on a very bullish chart. Could be a harbinger of higher electric rates with fuel pass through provisions in many electric rate approvals by utility commissions.




Re: Natural Gas

Reply #1
Natural gas continues to do well with an added push from the hurricane in the gulf. As production resumes and we enter the shoulder season where cooling demand diminishes before significant heating demand, there will be some head wind on price appreciation. The NG high and a half years ago was $4.929 per million BTU or MCF. For energy content comparison, a barrel of crude oil has about 5.65 times an MCF making crude oil's energy equivalent value just south of $28 per barrel.


Re: Natural Gas

Reply #2
Natural gas looks like a blow off top and MACD is looking overbought. Low storage volumes in Europe for this time of year and diminishing shale reservoir contributions in US may be in play.