Nat Gas Spikes to $5.20.

 1/23/2026 

Nat Gas Spikes to $5.20

Natural gas began the week at $3.00. With the the prediction of an Arctic blast across 35 states natural gas leaped 66% to $5+. This takes out the resistance at the December high of $5. In 2022 gas hit $10.  The cold weather is expected to last through January. Point being, prices could rise much higher.  Gas prices are soaring across Europe as well.

Crude oil is rising but not as fast.  Today March 2026 WTIC is up $1.72 to $61.07. This has also helped the energy service industry.

Halliburton HAL has jumped form $25 in late November to $35 today.

Schlumberger SLB in the same period has moved from $35 to $51.  Both firms have been cutting costs and trimming employees.  Halliburton has a forward price earnings ratio of 14 with Schlumberger at 16.  In today’s frothy market this is most reasonable. Transocean has come alive rising to $4.86.  The largest offshore driller in the world is trading at a bargain 64% of book value.  It’s not a 1979 boom return for the Permian Basin but this looks like a big improvement.

Nobody feels secure in today’s world.

Serbia President Aleksandar Vucic

The White House claims Trump’s Davos appearance went well. Not so fast. Commerce Secretary Howard Lutnick addressed the group one evening. His remarks so stung participant s that EU Central Bank President Christine Lagarde walked out of the event. Lutnick was heckled and jeered to the point that the event was cut short, no dessert for this group!  Trump went from threatening Europe with tariffs to backing off saying he had a framework for Greenland. He then claimed success at no cost. Translation, he is where he started which is being able to put bases anywhere in Greenland he wants. But trust has been fractured. This column could be filled with comments of various EU nations as all are wary of what Trump might do next. He seems to revel in chaos and disdains peace and quiet. He appears to prefer the gallon of vinegar to the spoon of honey.

QQ , the ETF for the NASD, made a significant spike low this week on the Tuesday sell-off. This suggests a bottom which can be traded.  I have warned of a top but we are not there yet.

In hard times people like horror movies. Sinners, a combination of gangster, musical, and vampire horror has received 16 Academy nominations. This is higher than the fourteen garnered by three movies since the awards began. The latest re-make of Frankenstein has also been nominated for best movie.  Markets are at all-time highs but mood is trending to the negative.

Dennis.elam@att.net