This winter must be extremely hot; NG has dropped from 3.6 to 2.5 (35% drop) in just a month. Russians used to have fun with the valves for the NG pipelines to the Europeans. Now no more.
Here is a very pertinent article from CME on the impact El Nino and storage levels are having on Natural Gas: https://www.cmegroup.com/insights/e...o-intensifies-natural-gas-takes-a-tumble.html
This is the second (and from different sources) modeling of the arctic wave that is supposed to slam us within the next month... A "Textbook" Sudden Stratospheric Warming Event Appears To Be Unfolding ETA: If these obscure predictions regarding polar climatology come true, short callers are going to be in a world of hurt. More widows incoming?
As we all know. snow, for the last 30 years, starts in January. in the Northern middle and NorthEast of the US.
I liked what I was seeing on both the Natural Gas daily chart and the weather charts, so I made this market my first trade of 2024, it was time to take the plunge! My UNG position bought at $5.19 per share in my Roth account is up about 3.1 % so far in about 20 hours of holding it. A key price level in time looks to be $6.25.
Here it comes... Planet’s most abnormally cold air to surge into Lower 48 states (msn.com) Anyone buying Feb/Mar NG futures?
I went long NG H/J thinking we are still in the 2000s or 2010s and G/H is just a precursor to what will happen on H/J. But with global warming, march is hotter and G/H is becoming the widowmaker. You can forget historical datas on those 2 spreads, they aren't relevant anymore IMO.