Gas is lower and I”m not quite sure why. My best guess is Lack of LNG demand with Cameron being down and idea that they will continue to be down. Also Oil prices are getting a shock, which could spur a little growth in production. Though I keep hearing how OPEC and non-OPEC need to cut? and oil demand just isn’t there? I don’t like Oil and am not up to date with oil. I just know that there was a huge surprise draw on the EIA oil report yesterday and it spurred pricing. If oil prices rise, so will production and so will the hard hit associated gas. This is kind of a long shot for me. I don’t put a lot of emphasis on this idea. It could be that the market is actually worried about South Central storage now, and lack of LNG right now when it matters most. Even in early draw season, South Central could continue to build storage because temperatures will be mild during early winter.
I’m getting called away again
I’m dumping my BOIL covered puts. Because the market is going further than I expected. I am at a profit (enough to at least cover the interest paid for the BOIL short). So I’m dumping them and I’ll risk not getting short and pick them up again later. My other positions remain the same.
I should be back, we’ll see