With prompt month expiring at $3.79 per MMBtu today, we knew it was coming. I've been warning about the assured rise in natural gas prices since the middle of Summer. The story begins with historically low gas storage (despite record high production), a fear factor that was surely to materialize in pricing. The U.S. gas market is about to switch from summer to winter, from injections to withdrawals. Accounting for nearly half of all U.S. gas demand, the Res/Comm sector will be the focus. Although 2019 will be the "U.S. LNG export ramp up" story, the key for the next few months will be winter gas heating, how big or ... (full story)