Energy prices went up again last week on hotter weather. Long-term trends suggest they may keep going up. The Beacon, 06/14/2021

The Headline:   Last week showed us more of the higher energy prices we’ve been expecting for some time now, and fundamentals continue to suggest more price increases over the coming months.   The 12-month strip price closed the week above $3.20, and the 24-month strip cleared $3.00.  Longer term trends – average storage, continued lower rig counts, recovering demand, and strong LNG exports – continue to point to higher prices being likely over the next few months.        

The Bottom Line:    This may not be the week to lock in a short-term contract, but the longer terms are still looking pretty good.   Either way, we need to get you set up and ready to sign an agreement as soon as the time is right.  If prices continue to rise through the year as the EIA is forecasting, the costs of not locking in a rate could be high.        

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