Yesterday MDN told you we would likely see the front-month NYMEX natural gas contract settle above $8/MMBtu by the end of yesterday (see NYMEX HH Natural Gas Price Trades Above $8/MMBtu, Closes @ $7.95). Indeed it happened–in spades. The NYMEX closed at $8.41/MMBtu, up $0.46 cents from the day before. Analysts are calling these prices “irrational” and predicting a crash–but not any time soon. Look for prices to remain elevated for the foreseeable future.
Yesterday MDN told you we would likely see the front-month NYMEX natural gas contract settle above $8/MMBtu by the end of yesterday (see 