As the summer comes to a close, Natural Gas Prices have broken through the $3.00/mcf price barrier. This clip from investing.com tracks the price developments.
The article states that “U.S. natural gas futures soared to the highest level since May 2015 on Tuesday, amid forecasts for warmer than normal temperatures across most parts of the continental U.S. in the days ahead. Natural gas for delivery in October on the New York Mercantile Exchange rose to an intraday peak of $3.032 per million British thermal units, a level not seen in 16 months.”
This is good news for drillers, but the markets will be watching storage levels and long term weather forecasts in the weeks ahead.