Low prices, Low Drilling Rig Counts, and Lower-than-Average Storage Levels. How Long Will This Buying Opportunity Stick Around? The Beacon, 03/15/2021

The Headline:   Another week of warmer weather and another smaller-than-expected natural gas storage withdrawal pushed natural gas and power prices down 2021-2022, although prices are up again after that.  Low and dropping rig counts, below 5-year average gas storage levels, recovering demand as facilities reopen post-COVID, and continued concern about new regulations on fracking are creating a risk of possible higher prices this spring.     

The Bottom Line:    Short term weather and storage reports are pushing prices down, but many of the longer-term trends point to rising prices in the coming months.   We are recommending that you lock in your electricity and natural gas rates now to avoid getting caught up in a rising energy market.      

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