While oil price fell for a sixth day in a row, gasoline seemed to mount a rally. According to the Department of Energy, gasoline demand improved last week
U.S. utilities led by Southern Co. are burning a record amount of natural gas for generating electricity without triggering a forecasted boost to the fuel’s price from near 10-year lows.
So why is the US manufacturing sector shinning as compare the EU? Well one reason has to be the historically low natural gas prices. The Impact that new production techniques are having on the manufacturing sector cannot be underestimated.
U.S. natural gas for delivery this fall is trading at a record premium, signaling the fuel may be poised to rebound from its worst quarter in two years because of production cuts and rising demand from power plants.
The EIA dramatically lowered their second-quarter average Henry Hub spot price prediction by 28.9% to $2.20 per million BTU’s. That is down from last month’s $3.10 prediction.
First it was International Monetary Fund Christine Lagarde. Now it's Fed Chairman Ben Bernanke! Come on you prophets of doom; let us enjoy the economic recovery.
