NG future is up 10% today. Other than snowy weather, the technical may have something to do with it. NG price has been so depressed. Producers have been so depressed and they have no money to drill new wells. But the over-supply situation has been alleviated. If we get some cold or (hot summer), we'll see the demand-supply balance more inline. With NG future trading volume much lower than that of CL, we can easily see NG positions get squeezed. Then we can see $3, even $4 NG price soon.
This is what Cargill uses, right? lol February Forecast and a Polar VortexQuick forecasts for February holidays! https://www.almanac.com/february-forecast-and-polar-vortex# Winter Weather Forecast 2020-2021 https://www.almanac.com/winter-extended-forecast-farmers-almanac What Are Long Range Weather Forecasts? https://www.almanac.com/weather/longrange Trading the T-line - cued....cut to the chase ... Stephen Bigalow https://elitetrader.com/et/threads/...t-right-here-baby.335635/page-15#post-5162295
This is not even polar vortex. Just dumped 8" of snow. Temperature hardly dropped much. And this snow was all forecasted, nothing new. Also NG is at HH. Over the past heavy snow, even winter 2017-2018, NG never jumped like it now. Only Northeast basis moved up. NG is up almost 5% again today. Clearly this is technical move. Look for more breakout.
Nat Gas is highly volatile it's been hard trading Cdn nat gas stocks on the way up huge corrective phases on the way up to new 52 week highs.