It’s no surprise that with some rising world tension, we get some big moves.
Now I don’t like to jump in on these right away but as time goes on we can get some nice prices on spreads that blow out – namely CL and GC.
So for now let’s watch and wait.
NG was the other interesting one today as storage came in above expectations and we got a big sell off.
We’re currently short NG so happy to watch this push lower.
Natural-gas prices tumbled to a seven-month low on Thursday, falling below $4 a million British thermal units, after a government report showed U.S. stockpiles last week increased at an above-average pace.
A mild summer in the nation’s biggest gas-consuming regions has eased concerns about supplies. Worries flared up last winter, when extremely low temperatures translated into record demand for the heating fuel. This summer, unseasonably cool weather across swaths of the U.S. has damped the use of power-thirsty air conditioners, limiting the use of natural gas in generating electricity.