As of 8AM, here is the current status:
March 2011: Backwardation 0.8%
April 2011: Backwardation 1.6%
May 2011: Backwardation 1.1%
June 2011: Backwardation 0.3%
July 2011: Contango 0.9 %
August 2011: Contango 1.6%
Tuesday, January 4, 2011
UNG and natural gas today: backwardation steepens, good for UNG
Natural gas prices continue to rise this morning, with February 2011 contracts just reaching $4.70 a few minutes ago. What is more important, is that backwardation has steepened slightly and the resurgent threat of contango (the UNG destroyer) has subsided somewhat, until June at least:
As of 8AM, here is the current status:
March 2011: Backwardation 0.8%
April 2011: Backwardation 1.6%
May 2011: Backwardation 1.1%
June 2011: Backwardation 0.3%
July 2011: Contango 0.9 %
August 2011: Contango 1.6%
As of 8AM, here is the current status:
March 2011: Backwardation 0.8%
April 2011: Backwardation 1.6%
May 2011: Backwardation 1.1%
June 2011: Backwardation 0.3%
July 2011: Contango 0.9 %
August 2011: Contango 1.6%
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