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When will Natural gas reach $3 again?

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  • When will Natural gas reach $3 again?

    Will the tornadoes and severe weather storms in us affect natural gas prices?

  • #2
    Originally posted by Hana View Post
    Will the tornadoes and severe weather storms in us affect natural gas prices?
    Keep in mind that it depends where canes and tornados hit... If they hit, producing region, = up, if they hit consuming region, = price down.

    Many think that a hurricane automatically = a price rise, not so true evidently.

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    • #3
      Originally posted by nofo View Post
      Keep in mind that it depends where canes and tornados hit... If they hit, producing region, = up, if they hit consuming region, = price down.

      Many think that a hurricane automatically = a price rise, not so true evidently.
      Why would a hit in consuming region drive prices down. I understand next to nothing about weather in the US (coming from a tropical region), but I thought Tornadoes would drive lower temperatures?

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      • #4
        [QUOTE=Vayu;52705]Why would a hit in consuming region drive prices down. QUOTE]

        Buildings scattered by the winds don't burn gas. Also, power outages mean less power consumption equals less gas burn.

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        • #5
          Originally posted by Hana View Post
          Will the tornadoes and severe weather storms in us affect natural gas prices?
          Hahahaha

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          • #6
            Originally posted by wolfoptiontrading View Post
            Hahahaha
            Wolf what a stupid comment , just like u.

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            • #7
              Originally posted by Hana View Post
              Wolf what a stupid comment , just like u.
              read the posts, understnd the lingo, if you want to call wolf stupid like you did then dont ask for any help from him or us. Really calling someone stupid is knda like saying you are smarter then them... isn't it? like I said before, Wolf is a sob , but he likes being that way and we like it too. So, I think you dont wnt to take him on IMO, he is teaching you a little lesson. Canes depend on where they hit!!

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              • #8
                Truly if this happen its a great news.
                $ 3 is very reasonable.
                Black Kitchen Cabinets

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                • #9
                  Interesting article from last week that I came across last week on the technical side of trading. As negative all the news is the question still arises as to when the last negative man will sell. Certainly it will come before the turn is justified. Just a thought.

                  http://www.marketwatch.com/story/wil...?siteid=yhoof2

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                  • #10
                    There is heavy resistance near the $2 level but once it is crossed decisively, momentum will accelerate very much in the same manner that we saw at $3.

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                    • #11
                      Originally posted by Redfox View Post
                      There is heavy resistance near the $2 level but once it is crossed decisively, momentum will accelerate very much in the same manner that we saw at $3.
                      Bill Mai, co-chairman of the Wyoming state's Consensus Revenue Estimating Group told the Wyoming Tribune Eagle "Honestly, I wouldn't be surprised to see sub-$1 prices for a good chunk of the summer."

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                      • #12
                        Originally posted by TomJoseph View Post
                        Bill Mai, co-chairman of the Wyoming state's Consensus Revenue Estimating Group told the Wyoming Tribune Eagle "Honestly, I wouldn't be surprised to see sub-$1 prices for a good chunk of the summer."
                        That seemed unthinkable just a few months ago and now it is becoming more plausible with each passing day.

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                        • #13
                          Originally posted by Hana View Post
                          Will the tornadoes and severe weather storms in us affect natural gas prices?
                          Nofo is right. It depends on where they hit. Most storms cause more demand destruction due to power outages and work closures than supply disruptions.

                          I like this post by Ben from last yr in the 2011 Hurricane thread: http://www.firstenercastfinancial.co...76&postcount=6

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                          • #14
                            Read that post but I take exception ...as usual with some points

                            Ben said.."furthermore, many of the older less hurricane proof rigs were taken out in 2005 storms leaving only stronger rigs that withstand a cat 4 or even 5 storm.
                            with less production at risk, hurricanes will have less impact on pricing"

                            Except, production platforms usually have people associated with them and when a Hurricane comes, they evacuate the rigs and platforms. Shutting in production until the storm moves on. There is usually a temporary spike in prices until any damage is assessed then back to basics.

                            So yes a Hurricane can make prices go up. Tornado's probably more to the down side since I don't remember a tornado taking out a lot of production but they do along with the associated storms take out a lot of consumption, through destruction of powerlines and residences.

                            So I vote hurricanes up and tornados down, both temporary anomolies.

                            And please don't call me or anyone else stupid because it adds little to the value of the discussion. Please stay on topic or somewhere near it at least.

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                            • #15
                              Originally posted by rdraginis View Post
                              Interesting article from last week that I came across last week on the technical side of trading. As negative all the news is the question still arises as to when the last negative man will sell. Certainly it will come before the turn is justified. Just a thought.

                              http://www.marketwatch.com/story/wil...?siteid=yhoof2
                              Interesting article and chart work. His premise is that NG must break 2.40 to signal the reversal. Sounds good.

                              He also shows that the downtrend is weak with conflicting info ..like down vol with down price. High volume showing capitulation of buyers would be a more positive sign of a bottom in place.

                              But the fact remains, the Jan low of 2.23 was taken out but there is still no convincing evidence that the bottom is in place or even an event in the near future.

                              This week's storage number and rig counts may give us an indication. If as predicted storage comes in around 40 and if the dry gas production continues to increase and rig counts continue to rise then a 1 handle is still possible and quite likely IMHO.

                              P.S. Sorry I just highjacked this thread off topic.

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