The price of Natural Gas keeps ticking higher and higher. We are now on the seventh consecutive trading day that September Henry Hub Natural Gas Futures have held above $3.00. As if the United States is set to finally get a solid domestic energy plan using Nat-Gas as a key component, investors have finally started to warm up to the idea of using natural gas. All you have to do is look at the United States Natural Gas (NYSEMKT: UNG) exchange traded product, where the shares are up 6.1% at $22.01 so far today. Chesapeake Energy Corporation (NYSE: CHK) is up 1.5% at $18.74 on the day. Also up are shares of Clean Energy Fuels Corp. (NASDAQ: CLNE), T. Boone Pickens nat-gas trucking gas station company, with a gain of 1.2% at $14.00. CNBC’s Rick Santelli today talked about the benefits again, but that is nothing new. The reality is that nat-gas got far too cheap and it makes sense to use in the mix of an energy policy. Now traders are buying the you know what out of it.
Just be advised of one thing, this marks more than a 50% jump from the absolute lows in natural gas seen earlier this year. Even if natural gas is cheap by historical standards it would not be a shock if profits start to get locked in as producers increase production.
JON C. OGG
Want to Retire Early? Start Here (Sponsor)
Want retirement to come a few years earlier than you’d planned? Or are you ready to retire now, but want an extra set of eyes on your finances?
Now you can speak with up to 3 financial experts in your area for FREE. By simply clicking here you can begin to match with financial professionals who can help you build your plan to retire early. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
