Wow!! We had another triple digit jump in natural gas in storage.
Today’s storage report surprised a lot of people as we had an increase of 107 bcf of gas in storage, and the current contract price dropped BELOW $4 for the first time since early January.
Once the report was released gas pricing dropped to $3.98. This means electricity prices will be headed down as well in the short term. The record production of gas this year is eliminating all fears we will not have enough gas in storage for another cold winter.
Enjoy the lower prices!!!