Those "cheap" natural gas prices everyone keeps talking about? They may not stay that way much longer.
Until late last year, natural gas prices had been on a steep downward curve. Yet on Wednesday, nat gas futures prices hit an intraday high of $4.078, touching their highest level since Sept. 15, 2011.
It's on track for its fourth-consecutive quarterly gain—and its best since the second quarter of 2012, when it rose 32.8 percent. Before then, nat gas had posted three quarters of double-digit losses, bottoming last year at 10-year lows.
Since nat gas traded at $1.90 last April, prices have more than doubled—skyrocketing by 113 percent.
The futures prices for nat gas are currently trading 24 percent above the 200-day moving average, which stands at $3.25.