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Natural gas hovering around the $2 mark, down from $10 during the summer
Posted on 4/3/23 at 7:21 am
Posted on 4/3/23 at 7:21 am
Probably one of the most infuriating commodities I’ve ever watched, so I realize this next question is asinine, but where does it go next?
NG equities haven’t been destroyed quite like the commodity, but it can’t stay at $2 for long or else they’ll be next.
NG equities haven’t been destroyed quite like the commodity, but it can’t stay at $2 for long or else they’ll be next.
7
Posted on 4/3/23 at 7:30 am to slackster
Still waiting for my utility bills to reflect any of this.
Posted on 4/3/23 at 7:37 am to Ace Midnight
Agreed. How is my gas bill double even though the price is at lows? Someone needs to explain that to me
Posted on 4/3/23 at 7:46 am to slackster
There is excess supply right now that needs to be worked off from what I have read.
These stocks are beat down and this is a good entry point IMO for a long term trade.
I have been buying SWN Jan 2025 5.00 calls for around $1.40. I will turn this trade into a diagonal spread eventually.
These stocks are beat down and this is a good entry point IMO for a long term trade.
I have been buying SWN Jan 2025 5.00 calls for around $1.40. I will turn this trade into a diagonal spread eventually.
This post was edited on 4/3/23 at 7:56 am
Posted on 4/3/23 at 7:58 am to Ace Midnight
quote:
Still waiting for my utility bills to reflect any of this.
The AG here in Little Rock actually launched an investigation. They had thousands of complaints.
Posted on 4/3/23 at 9:27 am to slackster
NG hovered between $2 to $3 for probably the last 10 years until the recent pop that lasted maybe a month...we're back to the normal.
Posted on 4/3/23 at 9:40 am to slackster
Wouldn’t the lower prices in the Oklahoma/Texas/Louisiana triangle result in increased competitiveness from a manufacturing standpoint?
Most of it uses natural gas for energy.
Most of it uses natural gas for energy.
Posted on 4/3/23 at 10:17 am to cwill
quote:
NG hovered between $2 to $3 for probably the last 10 years until the recent pop that lasted maybe a month...we're back to the normal.
I was going to say, what’s he upset about? Tons of municipalities bought into NG ran buses because of the cheap price. I’m sure they were hammered when it increased. But why would we want expensive Ng unless we worked for. NG company?
Posted on 4/3/23 at 11:16 am to frequent flyer
quote:
Wouldn’t the lower prices in the Oklahoma/Texas/Louisiana triangle result in increased competitiveness from a manufacturing standpoint?
Most new manufacturing is now in the south for various reasons. One of them being cheaper power supply. I heard an executive say a few years ago that most major pipelines now run north to south to support manufacturing now.
Posted on 4/3/23 at 11:35 am to baldona
quote:
But why would we want expensive Ng unless we worked for. NG company?
This is the money talk. I’m interested in it from an investment standpoint.
Posted on 4/3/23 at 2:03 pm to slackster
quote:The Freeport thing certainly helped it along on top of an historically warm winter.
Natural gas hovering around the $2 mark, down from $10 during the summer
Probably one of the most infuriating commodities I’ve ever watched, so I realize this next question is asinine, but where does it go next?
NG equities haven’t been destroyed quite like the commodity, but it can’t stay at $2 for long or else they’ll be next.
Curve is steeply contangoed - $4 and higher in the out years.
Agree that we are much closer to historical here than we have been the past 2 years.
Get used to it - gas is much more maddening than crude to "predict".
Posted on 4/3/23 at 6:01 pm to slackster
quote:
This is the money talk. I’m interested in it from an investment standpoint.
A couple of months ago I sold a basket of strangles on UNG… 8.50p/10c. I got assigned on the puts, but then sold 8.50 calls against the long shares the next week and away the shares went. Made decent money on the options and was happy enough. But looking at it now, if I was sitting on 1000 shares of UNG at 6.71 right now (off an 8.50 assignment), I’d be fairly
Posted on 4/3/23 at 7:11 pm to slackster
Work for a pipeline company. Internal proj are flat to down for this year
Posted on 4/3/23 at 7:20 pm to Big Scrub TX
The power company I am affiliated with sold all of their hedges in the outer years. It offset most of the rate increases we were going to have pass through to the customers. But now we are trying to buy those hedges back and it’s still expensive. We basically kicked the can down the road.
Posted on 4/4/23 at 6:48 am to slackster
quote:
This is the money talk. I’m interested in it from an investment standpoint.
I get that, and I’m somewhat ignorant here but didn’t NG only increase because of international supply issues? Russia/ Ukraine and maybe something else I’m forgetting? As in it was likely a temporary increase the entire time?
Posted on 4/4/23 at 8:26 am to slackster
excess supply plus warm winters in the US and Europe
we are all just waiting on the LNG projects to come online, but I feel like we have been saying that for 10 years
it has to happen eventually, right?
right?
we are all just waiting on the LNG projects to come online, but I feel like we have been saying that for 10 years
it has to happen eventually, right?
right?
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