NG - the NatGas front month futures price was $3.25/mcf just 5 weeks ago .... now it's $1.75/mcf ..... the recent crash in prices is almost entirely due to warm winter weather which makes a huge difference as to whether there's a big inventory surplus or deficit. If temps had been unusually cold over the lower 48 states since mid January, especially the population centers, NG might now be $4+ now instead of $1.75/mcf. Global warming is a reality.
Domestic production is up 5% y/y, but that's nothing new. Increased LNG exports mostly offset that.
It will be interesting to see if these low prices result in some production shut downs. Hard to see prices staying under $2/mcf for very long, but maybe it will happen. We'll see. Great news for consumers but bad news for producers.
Maybe it's finally time to buy BOIL (15.97) ?
KOLD has had a great run.
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