We had Deutsche Bank come out last Tuesday telling investors to BUY natural gas contracts because they were lowering their expectations on our natural gas build up for the winter months.
We also had a fantastic natural gas storage report come out Thursday morning, the best of the year so far. It exceed the analyst’s expectations, and was 20% greater than the current 5-year average for that corresponding week.
The current natural gas contract dropped in price seven cents over the next two days. But on Monday reversed itself and went up seven cents.
I think we may have reached our Springtime low and we are dealing with the summer air conditioning months now. Hopefully, natural gas storage numbers will continue to be positive, and we will see another dip in rates around August/September.