Prices continue to rise, and look likely to keep right on rising. The Beacon, 07/05/2021

The Headline:   Energy prices set another round of 52-week highs last week as the market continues to shake off the effects of COVID.   Demand is up, LNG exports are strong, storage levels and drilling rig counts continue to be unimpressive, and warmer temps drove near-term price jumps.           

The Bottom Line:    The impact of the price increases is primarily in the near term.   Long term prices are still trading well down in the 10-year trading range, and are still attractive   If you are on a variable rate, the next few months are going to be uncomfortable – get a long-term rate locked in, or at very least be prepared to lock in your rate when the market presents an opportunity.        

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