RE:Natural Gaskavern23 wrote: Anytime in the past...Natural Gas prices have been taken too crazy high levels....a plunge to insanely low levels follows...mr Eric Nuttall wouldnt say talk about that....look at the data:
June 2008 - 17.33 Nymex
dropping to 3.32 August 2009
Dec 2009 - 7.75 nymex
2.51
Feb 2014 -5.88 nymex
Feb 2016 - 1.97
Notice how the after the peaks...the plunge hits a lower mark cause of the reckless speculation?
Nov 2018 - 5.27 nymex
April 2020 - 1.83 nymex
May 2022 - 8.10 nymex
With renewables better...what do think the plunge price will be after oversupply...1.60...1.70.....
look at the past....
don't forget NG will run ahead of oil so you see NG flopping I see oil rising. Also look at exports of NG from 09 to now. We're globalized. Plus the 14 shale isn't coming back and we're not gonna grow NG supply globally as we did regionally... so your data points are valid the setting is different. I love to hear the other sides veiw because I have to research if it's true or find out via my response what my thoughts are on the questions asked. But I think it's not as "easy" to say xyz will be fixed like last time. And ontop I think there's more risks than last time to supply. Demand is already low with 3rd world getting USD hammered and China locking down flights from Canada not allowed to non Vax like myself and others .... so a normal recession is 1.7M bpd ... thats just the Russia issue for oil nat gas same deal.