Energy prices hold flat for the week, but fundamentals still point to higher prices on the way. The Beacon, 07/19/2021

The Headline:   Energy prices held their levels last week, with rising demand, strong LNG exports, middling storage levels and drilling rig counts, and continued extreme weather suggesting continued price increases.           

The Bottom Line:    The 12-month term price is still pushing $3.50, and is 70% above its 10-year low.   The 60-month term price is at $2.93, and is still trading at only 25% above the 10-year low.   Market fundamentals all point to increasing prices on the way.  The smart money is locking in long-term rates to avoid rate increases and market volatility.        

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