The International Energy Agency report confirmed market sentiment when it cut its global demand forecasts for 2014 and 2015 and pointing out that despite all of the conflicts going on in the world the market remains well supplied.
The shale gas revolution in the United States has led to a collapse in prices but is too big to keep to ourselves. That is turning natural gas from a domestic market to a global one, and the global demand may cure the current low prices.
Record cold and record demand are playing havoc in certain spot markets, driving markets crazy. Natural gas prices are rising and big swings in heating oil futures as the market tries to balance strong demand with supply.
Natural gas prices are being driven toward an upside breakout as an artic deep freeze challenges the nation. It also means that we will challenge record natural gas production and see how that will keep prices under control.