One of the Most Important Sources of Energy Is Up Over 40% in the Last Six Weeks!
In this report, I look at the energy market and specifically natural gas. I note that there has been a great deal of focus on the sharp drop in crude oil prices in the last month or so but that there seems to have been very little attention focused on a very important source of energy.
Natural gas futures have broken out of an almost two-year price range between $2.75 and $3.25 and recently we have seen a spike from below $3.00 to almost $5.00 in a matter of just a few weeks. On Friday, November 16th the December future settled at $4.27 which is over 40% above where it was at the beginning of October.
My conclusion is that as natural gas is almost as important as crude oil as a source of energy we need to keep a close eye on this commodity as further price gains could help derail the economic growth and recovery in the United States and around the world.
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I’m sure it won’t be long before they hit us with a price hike. Thanks mike
I didn't even notice natural gas rise. It seems to go up before winter so they maximize the utility bills. :(