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Does Natural Gas Breakout Suggest Skyrocketing Heating Bills?

By Chris KimbleCommoditiesOct 26, 2021 04:37PM ET
www.investing.com/analysis/does-natural-gas-breakout-suggest-skyrocketing-heating-bills-200606404
Does Natural Gas Breakout Suggest Skyrocketing Heating Bills?
By Chris Kimble   |  Oct 26, 2021 04:37PM ET
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Long-Term Natural Gas Monthly Chart.
Long-Term Natural Gas Monthly Chart.

Rising energy prices are stirring up plenty of inflation concern across the financial markets. And major breakouts for crude oil and natural gas are looking like an unpleasant October surprise for consumers.

This theme has been at the forefront of my research, penning an article on prospective oil and gas breakouts on Oct. 6, “Energy Crisis Brewing,” as well as an article on Oct. 14 on the natural gas ETF “Testing Top Of Falling 7-Year Price Channel.”

Today, we revisit this stark reality by sharing a chart of natural gas futures on a long-term monthly basis. As you can see, natural gas is attempting to close the month as its highest price in 13 years.

Should natural gas futures close the month above its 2009 monthly closing highs ($5.57), it could spell more pain for consumers via rising heating bills. A breakout here could target prior highs around the $13 mark.

There are still four days to go. How natural gas closes the month could be critical to consumers pocketbooks – as well as the inflationary investment theme. Stay tuned.

Does Natural Gas Breakout Suggest Skyrocketing Heating Bills?
 

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Does Natural Gas Breakout Suggest Skyrocketing Heating Bills?

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Comments (3)
Luck Jack
Luck Jack Oct 26, 2021 10:48PM ET
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$13 is big time joke...plz buy for yourself and stop fooling the people..
Doug Favell
Doug Favell Oct 26, 2021 7:50PM ET
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Gee Chris, ya think? Inflation running at 7.5% is just the pregame show!
By designe
Bydesigne Oct 26, 2021 5:53PM ET
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There's is alot of speculation taking place, hinging entirely on a polar vortex dippung into the USA. Yet Production is near All Time Highs along with imports of Canadian natgas. There seems to be alot of ignoring the aspect of less office space being occupied in the US because of the substantial increase of the work at home being ever prevalent.
Paolo Lorenzi
Paolo Lorenzi Oct 26, 2021 5:53PM ET
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My office hold a thousand people. Ok a typical day there are under 30 people in the office. But the heat is still on for the whole office.
 
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