European supply dwindling continues to put a bit of a floor in the natural gas Charts, although it’s worth noting that the contract that most people are trading is actually the US contract, So things have to get pretty bad in Holland for Europeans to come over to the US and start grabbing natural gas at Henry, Louisiana and other hubs, which is what’s being priced in right now.

Typically speaking, this is a fairly weak time of year. So, it’s a bit of a stretch to think that we’re just suddenly going to take off to the upside, but there is a certain amount of geopolitical concerns out there. After all, the land-worn Ukraine has gone nowhere, and therefore, natural gas could continue to be a major issue. If we can take out the $3.50 level, this is a market that can really take off, but right now I’m not really looking for that. I think we’re in the process of building a base.

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