Welcome to December 1st, and a brand new economic world.
Factory activity in China, France and Germany FELL in November. Commodity prices are falling fast. Brent crude oil, which not long ago was trading above $100 per barrel hit $68.54 today. Other commodity prices are falling in the same manner.
Natural gas in the US which is much more tied to weather than international economic needs is falling too. Last week I wrote how gas had hit $4.53 on the current contract. Today already it has broken below $4 and is trading closer to $3.95. It is possible – 1) with the mild weather we have across the US; and 2) the falling commodity prices worldwide – you may see gas down to $3.70 – $3.75 soon.
This is a GREAT TIME to lock in current low electricity rates now.