Gas up 60% this morning

Flight3287462

Brent up 7% @ $112.

Astria

Well we did kinda expect it

Sea_Shell

If this rise (or even some of it) is sustained, I wonder what the October cap's gonna look like !!!! 

(where's that old blue haired eek emoji when you need it?!)

Effician

Sea_Shell said:

If this rise (or even some of it) is sustained, I wonder what the October cap's gonna look like !!!! 

Never mind October ,my money would be on a July rise.

QrizB

Astria said:

Well we did kinda expect it

Well yes. Prices are volatile, there's a land war in Europe between one country that supplies gas and another that has the pipelines that deliver it.

Sea_Shell said:

If this rise (or even some of it) is sustained, I wonder what the October cap's gonna look like !!!!

That's a big "if". I don't think the market can sustain a 400p/therm price for long.

https://en.wikipedia.org/wiki/Price_elasticity_of_demand

On the other hand, commodity traders must be making (& losing) fortunes.

(where's that old blue haired eek emoji when you need it?!)

This one? 😱

https://emojipedia.org/face-screaming-in-fear/

Sea_Shell

The old forum used to have an animated blue emoji whose hair would stand on end in shock!!!   I miss the little fella. 

Flight3287462

What's counter intuitive is Russian exports west are the highest they have been for months.  But prices have pulled back  currently 30% up at 379.

Gerry1

Sea_Shell said:

The old forum used to have an animated blue emoji whose hair would stand on end in shock!!!   I miss the little fella. 

He's been converted to run on hydrogen !