Weekly Energy Report (03/09/2020)

Good Morning Everyone —

We saw only slight changes in the forward energy markets last week, with monthly natural gas prices at close on Friday all staying close to their close on the previous Friday. Warm weather trends will continue this week, although warm weather last week did not provide the bearish pressure it historically has — prices may well be low enough that bearish pressures will have to be extreme in order to actually push prices down. Market fundamentals are mixed, as storage levels are slipping in relation to historical levels and drilling rigs are down, but the winter weather continues to be mild. Looming over all of those indicators is this morning’s news about crude oil prices and the stock market — natural gas is not a widely-used market for speculators, but there may be impacts from the coronavirus and oil-related news as well. Price levels are still saying “BUY”, and we agree with that advice, with the caveat that a wise buyer will keep a close eye on the news this week, as well. As always, please let the Lighthouse team know how we can be helpful to you.

Click HERE for your printable and shareable copy of the Beacon.