The era of COVID-driven low energy prices looks to be ending. The Beacon, 06/28/2028

The Headline:   Energy prices set a number of 52-week highs last week – not terribly surprising considering that the past year saw historic lows during COVID.   Recovering demand and warmer temps drove broad price jumps, and storage levels and drilling rig counts did not do much to lower the markets’ anxiety levels.           

The Bottom Line:    If you are looking for a short-term immediate-start contract, consider waiting for weather to cooperate with some cooler temps.   The longer terms and contracts with deferred starts are still worth buying – market fundamentals suggest broadly higher prices are likely through the rest of 2021, at least.   Either way, it is smart to be prepared – not being able to execute when the market presents an opportunity could be costly.        

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