RE:RE:What in blue blazes is going on?European gas prices are $25USD/MMBtu, implying that LNG pull out of the US will be strained. This is making it so that Europe is going to freeze this winter as there is no way they can fill storage with the amount of LNG avaialble.
The draw on Henry Hub is real, and US storage is not filling up. This is translating into higher AECO exports, and storage here competiting with the US.
More Peyto related items, Peyto was undervalued based on FCF to other producers, and analysts have been revaluing up the 12 month foreward FCF as old hedges roll off and spot rate exposure rises.
It's all fundamentally driven. Also PEY.to market cap went over $1B and they will likely be added back into the TSX index. Also moves it into the mid-cap segement of the energy space and into the hands of more investors that can't invest in small caps.
Rotation out of tech and into the reflation trade.