Natural gas, futures: contango. $8.50 in January, 2023; right now: $8.00; up 9.3%.
How's the market taking this?
- CVX: up 1.44% up $2.47; trading at $174;
- MNRL: up 2.11%; up 59 cents; trading at $28.52;
- EOG: up half a percent; up 64 cents; trading at $123.60;
- HES: up 1.46%; up $1.67; trading at $116;
- SRE: up minimally; up one-fourth percent; up 43 cents; trading at $171.76;
- OKE: up 2.1%; up $1.50; trading at $72.80;
- WMB: up a bit less than a half-percent; up 15 cents; trading at $35.66;
ISO NE: link here -- this is very, very interesting.
- when the marginal fuel is natural gas or natural gas / wind, prices for electricity are lower;
- so, with natural gas spiking, one would expect ISO NE prices to start moving up, all things being equal. We will track this going forward.
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