Twelve hours after the bombing of ISIS in Syria, there appears to be little impact on the energy prices in the U.S. and globally. Energy prices are at somewhat depressed levels and they are not impacted by world events. The Ukrainian crisis, ISIS and other world events are not impacting prices. One has to wonder what will.
The only hope for natural gas prices in the U.S. is a cold winter. While no one seems to have a fix on the outlook for the winter weather, the Old Farmer’s Almanac is predicting lower than normal temperatures throughout the Midwest, Northeast and Atlantic states. Since this section of country are heavy users of natural gas, a colder than normal winter could drive up natural gas prices. Will prices get above $6 like it did last year? We’ll have to wait and see. We’ll track this and report on it.