After hitting record lows last year, natural gas prices are finally moving higher, with storage volume levels 32% lower compared with the same time last year. Natural gas production also continues to be curtailed, with drilling rigs receding 36% year over year.
Gas prices are currently hovering around $4 per MMbtu, more than double the price from last April. Does this mean we're now in the throes of a natural gas bull market? Check out the following video for more information in addition to a few recommendations on ways investors can profit from the rise in gas prices.
Joel South owns shares of Devon Energy. Taylor Muckerman has no position in any stocks mentioned. The Motley Fool recommends Ultra Petroleum, owns shares of Devon Energy and Ultra Petroleum, and has options on Ultra Petroleum. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
More from The Motley Fool
Here's Why Ultra Petroleum Corp. Is Plunging Today
The natural gas driller’s second-quarter results didn’t impress.
3 Stocks That Look Just Like Pioneer Natural Resources in 1997
If you want to find an oil and gas stock with the potential to grow like Pioneer has over the years, take a look at Parsley Energy, Cabot Oil & Gas, and Ultra Petroleum.
Seadrill LTD Is Either a Bargain or a Money Trap Right Now
After disclosing that bankruptcy was on the table, shares of the offshore driller have fallen to penny-stock territory. The question investors must answer is whether they're willing to lose everything on the chance that doesn't happen.