SillyThis is getting silly. Specualtors have had this short Natural gas and go long on Oil play for over a week. Massive build in paper barrels for hedge funds and massive short on NG.
1.72 Nymex NG down 10 cents.
And near 77 WTI.
And Europe NG tanked today again.
NG hasnt been this cheap in Eurppe since July 2023....and it is winter time still in Europe.
If these hedge funds dont unwound this long oil and short ng to such effect...they run a big risk of bringing oil down with NG.
Not sustainable.
Warm weather that is crashing NG everywhere is not awesome of oil prices.