34 replies to this topic

[linrom1]

OK, really how is no one following what is happening in natural gas?

 

What's going on right now with natural gas is simply unbelievable.  It has fallen more than 70% in a mere 5 months from its high of $10.03 on Aug 23, 2022.  It is now in its 6th straight consecutive down week.  What in heaven's name declines for 6 straight weeks? It is an absolute bloodbath in Natural Gas these days.

 

So what is happening?  This is getting beyond simple supply and demand.  At this rate natural gas will be free in a couple of more months or less.  There has to be a bottom in here soon because at this rate natural gas drillers will have to shut down.

There was some smart guy on TeeVee that said if doesn't hold in his box(3.3-2.8) or so, it's going back to $1.

[dougie]

my guess is NG is a key part of the war on Russia : so all bets are off

[linrom1]

my guess is NG is a key part of the war on Russia : so all bets are off

Could be, but what about gold?

[dougie]

 

my guess is NG is a key part of the war on Russia : so all bets are off

Could be, but what about gold?

 

gold too imo

[Ken]

my guess is NG is a key part of the war on Russia : so all bets are off

I think so too!  As I wrote earlier there is more than supply and demand here.  It's very suspicious. There's something nefarious going on in the Natural Gas market.

 

The Freeport LNG plant in Texas had a fire back on June 8, 2022 which took them offline. The initial restart of Freeport's liquefaction facility is scheduled for the second half of January 2023 pending federal regulatory approval.  Why haven't we heard anything yet?  If Freeport can start exporting U.S. gas again this will help stem the bloodbath in the price of natural gas.

 

The colder weather in the United States has not stopped natural gas from falling either.  Nothing seems to matter regarding natural gas.  It just continues to decline day after day, week after week, month after month.  Look at a chart.  I've rarely in my lifetime seen such a steep decline.  It's literally almost straight down since the middle of Dec 2022.

 

At the same time as Natural Gas prices plunge I got the most expensive gas bill I've ever had in my lifetime 2 days ago.  I live in Japan and we use gas for hot water and cooking.  It was crazy expensive while my natural gas ETF is getting slaughtered!

[Ken]

Another down day for Natural Gas.  The March futures contract is currently trading down 5.28% (again for the umpteenth time) as I write this.

 

It's impossible to invest in this!  I've been dollar cost averaging in since Dec 23rd and I'm out of cash. How can anyone invest in anything that literally falls 4%, 5% or 6% day after day and continues to fall for weeks on end?  This is insanity.

 

 

According to the Yahoo news link below:

 

Gas flows to Freeport LNG export plant resume

Jan 26 (Reuters) - Freeport LNG's long-shut liquefied natural gas (LNG) export plant in Texas started receiving small amounts of pipeline natural gas on Thursday, Refinitiv data shows.

 

The flows were on track to reach only 22 million cubic feet per day (mmcfd) on Thursday, the data showed.

 

https://finance.yahoo.com/news/gas-flows-freeport-lng-export-123817978.html

[Chilidawgz]

[Chilidawgz]

 

my guess is NG is a key part of the war on Russia : so all bets are off

I think so too!  As I wrote earlier there is more than supply and demand here.  It's very suspicious. There's something nefarious going on in the Natural Gas market.

 

The Freeport LNG plant in Texas had a fire back on June 8, 2022 which took them offline. The initial restart of Freeport's liquefaction facility is scheduled for the second half of January 2023 pending federal regulatory approval.  Why haven't we heard anything yet?  If Freeport can start exporting U.S. gas again this will help stem the bloodbath in the price of natural gas.

 

The colder weather in the United States has not stopped natural gas from falling either.  Nothing seems to matter regarding natural gas.  It just continues to decline day after day, week after week, month after month.  Look at a chart.  I've rarely in my lifetime seen such a steep decline.  It's literally almost straight down since the middle of Dec 2022.

 

At the same time as Natural Gas prices plunge I got the most expensive gas bill I've ever had in my lifetime 2 days ago.  I live in Japan and we use gas for hot water and cooking.  It was crazy expensive while my natural gas ETF is getting slaughtered!

 

One of the greatest shorts ever.

 

[Russ]

I have Oct 2023 as a big low for Natural Gas but there could be a rally perhaps into Armstrong's panic cycle in June before the Oct low. 

[linrom1]

NG is in in backwardation. It reminds me of oil in March '20 when it went negative. NG doean't get into contango all the way until June '23 contract. It's going over $30 eventually.

Edited by linrom1, 26 January 2023 - 11:16 AM.