Discussion in 'Commodity Futures' started by Wonderduck, Jan 1, 2004.
Anyone hear any scoop as to why nat gas dropped so heavily on Wednesday?
There were bearish US Energy Department figures - 80 billion cubic feet of gas were taken from storage last week, versus the 90 billion expected.
Looking at the intraday chart, it appears that someone "knew" these figures in advance. In any case, gas is just back at its price from Monday - it has been ultra volatile recently so big moves like this are not too surprising.
Anyone not familiar with natural gas should keep this in mind: it is approximately TEN TIMES as volatile as the ES!
And thinly traded to boot (in the electronic contract, anyway).
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