Post by
kavern23 on Sep 15, 2023 8:06pm
Rex
Did you do any profit taking this week? I happy too see the strength in price in oil and gas prices.
It's a gift.
Basically "legal manipulation" from keeping NG prices around the world from a serious crash.
The timing of these events is funny. Norway puts their NG on maintenance Sept 1...exactly when Europe was around 95% full. 95% is closer to 100% in some ways as the storage caverns in Europe are scared between countries and the inland caverns have pipeline limitations on strorage rates.
Most of Norways NG is pipleines and cant go to others markes in LNG....so it has to be sold to europe no matter the price. Norways sales are very huge.
Norway was supposed to be back online days ago and they keep doing more "maintenace"...in no rush to go back online but that must be quite a revenue quick in sales ng revenue. Eventually Norway has to produce again. If norway produces again, 7 BCF min of USA ng has to find a market or more gets injected into USA storage which would hammer USA prices.
And then Australia does a strike and times it when EUrope is basically full.
Bad leverage for union, should have striked earlier when Europe needed ng more.
USA has had hottest sunmer on record and abnormal AC demand.
USA injections are going to get high soon again. And the forecast is for a warmer than normal fall. Both Europe and USA.
I wish USA was under 5 year average right now with the time out to winter. Renewables wind is very poor in hot sunny weather during summer. Its yet to kick in but material when it does.
Comment by
Dow20000 on Sep 25, 2023 7:15pm
Weather forecast is to stay above freezing until Oct.15th. give or take a day,after that much colder.