-->I've been talking about natural gas recently, because the price of natural gas has been sliding while the price of oil has been rising. Last week I was convinced that natural gas, following its sharp decline, had bottomed. You may not have noticed, but yesterday natural gas spiked higher, closing (September contract) at 8.21. Considering that NG was as low at 5.63 on July 18, this has been quite an advance. Please take a look at it on the daily chart below. That huge gap rise on the chart shows yesterday's action.

So first we've seen the"end of cheap oil," and now we're seeing the"end of cheap natural gas." This winter's heating bills will not be pleasant to look at or to pay.

(aus Kommentar Richard Russel vom 1.8.2006)