Why Natural Gas Prices Just Exploded

The weather is going to be hot after all in the short term, forecasts now predict. That prediction sent natural gas prices soaring on Monday by nearly 20 percent as traders hold out hope for anything that will contribute to a reduction in nat gas stockpiles. Natural gas prices have been trading under $2.50 since December on weak demand and oversupply. Other bullish factors on Monday highlight the increased LNG/feedgas export figures provided over the weekend, with Genscape estimating a 740 MMcf/d increase on Saturday. Natural gas prices were trending…