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GAIA Host Collective
I had a chance to speak with my neighbor and ask her how things were going in life. Just a pleasant little conversation.. During the conversation I ask her if she was aware that natural gas prices for her heating bills were going to be about 40-70% higher than last winter.. She said no.. That about floored me but then I wondered how many other people are just not aware of the price increase thats coming with this winter's heating bill and what a big surprise its going to be to them.
And today prices are up at insane levels. A new contract breakout in Natural Gas - price hasn't been this high in... perhaps ever. And NEVER in the summer, before now.
CL - up 5.5+%
NG - up 10.5+%
Gasoline - up 11+%
Heating oil up 9%
and these are the gains just today. Clearly traders are deciding better to be long than do what they did pre Katrina.
Will it last... only the aftermath will tell...