Natural Gas Prices Are Surging, Up 5%

Marcellus Shale

Photo: Wikipedia

Natural gas contracts are screaming higher this afternoon, most likely on the bullish natural gas talk occuring at the Ira Sohn conference.July 2012 contracts gained as much as 5 per cent today, hitting $2.70.

According to Josh Brown, who’s in attendance at the Sohn conference, Jeff Gundlach has been touting shale plays as having compensated for the winding down of conventional wells.

Tomorrow’s weekly storage report is also likely to show inventory declines.

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