The impact from events in MENA (Middle East / North Africa) in the past couple of months has been uncompromisingly bullish for the energy complex, and specifically crude oil. However, with the coming of a second ‘black swan’ event in quick succession to this first outlier through the earthquake in Japan, markets this time have been dealt a very different hand, in that the impact to the energy complex is not quite as clear cut. » read more
Posts Tagged ‘UK natural gas’
Earlier in the year, I wrote a post about the sideways movement in US natural gas and crude oil prices, called ‘Keep Calm And Carry On’. Well, now seems an opportune time to flip the coin, as we are seeing UK natural gas prices panic and freak out.
Altrightee, we’ve got two more full weeks left of 2010; hopefully they’ll be a little more eventful than this one. Crude broke $90 early doors, then fell back and treaded water ahead of a wave of information this weekend. Meanwhile, natural gas rallied through to Thursday, only to give back all its gains on a bullish storage print (go figure). This weekend sees Opec’s end-of-year party meeting in Ecuador, meanwhile China is widely expected to raise interest rates. Next week sees a return to form for economic data, while colder-than-normal temperatures for the eastern US are lending support to natty. This means next week should be more of a snowstorm of activity = much more fun. Until then, keep your eyes on the prize (like my friend here), and your plate close at hand; bites are served: » read more
Wowee, what a week. Starting with a $113 bln bailout of Ireland, culminating with Nonfarm Friday (= US unemployment data), this week has not disappointed. The filler, manufacturing data (sandwiched in the middle of the week), once again illustrated global expansion for the industrial sector, while US house prices are swooning once more (although pending sales are not). US natural gas is receiving some support from heating demand as thermostats are cranked up, while storage begins to be whittled down. Crude is back within grasping distance of $90 as positive data and potential intervention from the ECB is rallying the Euro. Meanwhile, the entire UK is walking in a winter wonderland (because no public transport works). I could go on and on (and on); what a great week. AND we are into December – rock on. Enough of the fluff, let’s get onto the good stuff: » read more