Is natural gas a bargain at current prices? While the August 2024 contract is trading just North of  $2.000/mmbtu, the August contracts in 2025 through 2029 tell a different story.

From 2025 through 2029, the August contract averages $3.468/mmbtu compared to 2024 which last week was $2.083/mmbtu. The remaining months of 2024 tell a similar story.  Have you talked to your ENGIE representative lately?

Recent record temperatures and cooling demand have done little to elevate futures as ample storage and healthy production data seem to be working together to dampen prices.  According to the most recent EIA report, working gas in storage sits 250 bcf  higher year-over-year and 465 bcf above the five-year average.