Natural gas prices will be bad as well, we shouldn't expect prices to go back down significantly.
With March being the last month of serious withdrawals, we are expected to end the season at record levels.
Traders are essentially writing off this winter season and are now focusing on the summer, which will need the additional storage to offset an active hurricane season.
Weather impacts business across every segment, and this is the most innovative way to hedge that risk.
You have a transition to a warming trend. Because it's switched to warmer weather, we've seen the weather markets sell off and of course, the natural-gas markets sell off as well.
What wasn't hit by Katrina is being targeted by Rita. The market is taking the storm very seriously.
We have fared well despite the significant losses in Gulf production.
There will be some volatility to the market, but barring any other major disruptions, I think we'll continue to head lower in prices.
The six- to 10-day forecasts are colder than average, and we're seeing more cold air behind it. It's going to be very bullish for gas, and we may see a really strong rally.
Prices could remain at or above $38 for the next one to two years.
Prices are being pushed lower ahead of Thursday's storage report.
That opened the market to smaller lot energy traders and even grain traders.
A lot of funds are short natural gas so they amplified the downside move. Then, the bounce was on some short covering -- classic speculative volatility.
There's been tremendous growth in the weather market, driven by funds that are participating in cross-commodity activity.
The biggest story of the year is clearly the record-breaking hurricane season.
Gas is still taking a lot of direction from the crude market.
Heating oil customers have the worst of the situation.
The elephant in the room is storage right now. Despite the expected return of colder temperatures, traders see the record high storage.
The chance of it turning north to Louisiana is getting slimmer.
The commercial sector is starting to realize that weather can't be an excuse for financial losses anymore.