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Hey Oil Barons.......


936horn

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4 minutes ago, Storm the Field said:

Rough day in the markets, but energy commodities are having fun. 

WTI +3.6% to $76.56 (3 month high)

Natty +7.4% to $3.98 (highest close since 1/3/23)

I wonder how sustainable each commodity is. Trump has demonstrated a proactive nature with tamping crude down, but also is protectionist and heavy-handed with respect to other oil-producing nations. So I really don’t know. Gas fundamentals have totally changed in the last 12 months, but I fear we need a colder winter. Or rather a longer winter that has been colder relative to the last two. Anyone have insights here?

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1 hour ago, Storm the Field said:

Can we please set that on cruise control for a couple of years?

¡Imposible! 

59 minutes ago, Storm the Field said:

Natty at $4.13 is highest price in 743 days, dating back to $4.17 on 1/4/23, which was also the last time that its price started with a 4.

It’s crazy we haven’t closed at above $4 in the last month. We’ve crossed it intraday crossed it several times. 

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4 hours ago, Rex Kramer said:

What’s up with NG today?

Was down about 1% until noon and then rocketed up 6% in the next hour. 

From my exhaustive research (i. e. searching tweets for "nat gas") it looks like the 12z Euro weather model that came out mid-day was on the very cold side in regards to this upcoming arctic blast. Also, there was a very large inventory drawdown reported for last week. 13th largest weekly drawdown of all time, to be exact. Lot of predictions that next week's report of this week's drawdown will be in the Top 5.

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3 minutes ago, Storm the Field said:

Was down about 1% until noon and then rocketed up 6% in the next hour. 

From my exhaustive research (i. e. searching tweets for "nat gas") it looks like the 12z Euro weather model that came out mid-day was on the very cold side in regards to this upcoming arctic blast. Also, there was a very large inventory drawdown reported for last week. 13th largest weekly drawdown of all time, to be exact. Lot of predictions that next week's report of this week's drawdown will be in the Top 5.

Thank you brotha.  I presumed weather related but wasn’t sure because of the sharp midday increase. I’ll take it. 

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NG has been even more volatile than its own high standards.  doesnt feel like the recent $0.30+/mmbtu intraday swings are due to natural change in physical market. feels like some CTAS/traders getting blown out. 

 

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