to late some is is already at 66.925 and 121 seller at 66.975 ( where i went long ) Mister hurrican Where r u ( are u planning to hit the Gulf of mexico ) heheheheeh
Francis is headed North-East my friend. http://www.nhc.noaa.gov/refresh/graphics_at1+shtml/024635.shtml?5day?large
naty gas is as cheap as it has been in 25 yrs in relation to crude..I bot it in june w/ a low 5 handle, then sold it in the low 8's w/in a week..I plan on reloading right here 2x
WTI Crude is under pressure, with major levels approaching. Growing opposition for US calls on sanctions against Iran did not help support crude either. EIA data showed a WTI Crude inventory drop of 2.21 mill. brls vs 1.5 mill expected. The main mover was gasoline showing stocks up by 718k mill. brls vs draw of 900k expected. Likewise with distillates, with inventories up 3.10 mill brls vs build of 125k expected. All in all, this paints a fairly price negative outlook for the energy complex. In addition to this, BP announced that the Prudhoe Bay oilfield should be fully operational by the end of October, thus keeping a lid on any short-term supply shortages and fueling the downward momentum. A break of 65.50 leave Crude in danger of extreme losses. :eek: Gasoline led the way lower yesterday, dragging all energies lower as the market sees more than sufficient crude supply. Any relief rallies should be met by selling pressure, with major resistance at 68.30, a good level for fresh shorts.