Because we have seen twelve weeks of above-average gains in natural gas storage figures we are now seeing the easing of concerns about having enough gas for the cold winter months this year.
Hedge funds reduced their net-long (Bullish) positions last week by 8.1%. Pricing for natural gas contracts is easing and hit a low +today of $4.092, the lowest since January.
My suggestion is to lock in +today’s pricing soon as we are at reasonable lows on gas and electricity pricing right now, and if we get a surprise (negative) storage report on an upcoming +Thursday soon we will see a significant immediate spike upwards in pricing.
