Wow, Did Anyone See This Coming -- Natural Gas Up Almost 10% Today -- Monday, April 18, 2022

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.