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Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: jim_p who wrote (6605)	2/11/2002 2:53:28 PM
From: ItsAllCyclical	Read Replies (2) \| Respond to of 206191

Anyone know why energy prices are up sharply over the last hour? Short covering based upon technical breakouts is all I can come up with for now. Haven't seen any news political or otherwise.

To: jim_p who wrote (6605)	2/11/2002 4:42:59 PM
From: excardog	Read Replies (3) \| Respond to of 206191

In todays gas report EIA makes the following projections: <<EIA projects that by the end of the heating season, which is less than 2 months away, working gas in storage will be double the level at the end of last March. Consequently, natural gas wellhead prices will fall throughout the latter part of winter and continue to decline though the spring and early summer. For the year 2002, assuming normal weather and barring any major supply disruptions, the annual average natural gas price is projected to be $1.86 per thousand cubic feet, or less than half of last year's price.>> My opinion is the lower natural gas prices stay in relation to their oil counterpart the sooner we get supplies back in balance. Thus lower gas prices in the short term would in fact be helpful. Just hard to see where this imbalance gets worked off. Maybe later this year as some see but maybe not until 2003 as I think your seeing. I'm still up in the air on natural gas prices. If we have a hot summer maybe it gets worked off quicker. Lots of variables which seem to skew things. Scott