For those who grew up in New England, single-digit temperatures, snow squalls, and icy roads are nothing outside the ordinary.
With at least six days last year averaging colder than today’s forecast, it seemed almost impossible that gas prices would break last season’s record.
Accompanying this week’s cold was a combination of factors amounting to conditions that were far from normal. As the risks began to present themselves on the morning of Wednesday, December 18, AGT-CG (Non-G), New England’s largest natural gas hub, sold for as much as $15.25/MMBtu, the highest price observed since January 30, 2018.
So, what really caused natural gas prices to spike when they were so weak for the last six months?Natural gas for the rest of us is trading at $2.20 (see oilprice banner).
*********************************
US Petroleum Consumption
A look back to EIA projections back in 2000 or thereabouts.
Since 2000, the population increased, income increased, yet demand for petroleum is lower than all projections.
**********************************
Nip And Tuck
It was close but my portfolio closed in the green on Christmas Eve.
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.