The natural gas industry is gearing up for a spike in prices that could benefit the line of exchange traded funds (ETFs) for the commodity.
Break out the blankets. Some experts are predicting that customers could very well pay as much as 40% more than last year when the winter cold rolls in, reports Mitchell Hartman for Marketplace.
Oil has gotten more expensive, as you may have noticed, and industries that are able to do so have been switching to natural gas as an alternative. Those industries are grabbing what they can.
In trading today, however, natural gas futures fell more than 7% after a report that supples rose more than forecasts, reports Mark Shenk for Bloomberg. However, there is still less than there was a year ago.