HH gas prices were up 52 cents overnight to be back at a shade under $6.00 an mcf. I find it very hard to explain this price strength given storage levels are OK, the weather has been warm over Christmas and the supply demand situation seems in balance.
But still gas prices are at near record levels. There is something we are obviously not taking into consideration.
When the weather changes as it inevitably will and storage levels drop what then? Can only mean one thing, higher prices still.
PSA Price at posting:
0.0¢ Sentiment: None Disclosure: Held