Bought boatload of BOIL
New 52 week low
ProShares Ultra Bloomberg Natural Gas (BOIL)
https://ca.finance.yahoo.com/quote/BOIL/
$461 million of assets
Price $12.38
52 Week'
High $78.65
Low $ 11.90
ProShares Ultra Bloomberg Natural Gas (BOIL)
Re: ProShares Ultra Bloomberg Natural Gas (BOIL)
Do you plan to trade or hold? Don't these leveraged funds have time decay?
Re: ProShares Ultra Bloomberg Natural Gas (BOIL)
There is a glut and export terminals are trying to reopen couple that with the EU projected to fill up sooner rather than later and US producers showing no discipline in cutting back production. There is also takeaway issues causing prices to go negative at WAHA.
Here is something from Marcellus Daily news
- Downward trend limited by weak LNG market: traders
- LNG imports to Europe down 20% on year
- Tank top to be reached earlier in year: traders
LNG and natural gas prices are expected to weaken as the EU’s gas storage sits reach tank top during the third quarter, sources said. This downward trend is expected to be limited, however, supported by the need to attract a sustainable amount of imports in a tight LNG market.
According to historical data from S&P Global Commodity Insights, after continuously falling from the highs of January 2023, the Dutch TTF front-month contract began to trend higher in June of the same year, albeit within volatile ranges. After trending higher, the contract peaked on Oct. 13, as Gas Infrastructure Europe data showed EU storage sites on that day were 97.69% full.
While higher year on year, sources say they still expect TTF prices to fall as the continent’s storage sites reach tank top in the third quarter.
prices will not recover unless production is cut> plain and simple
Here is something from Marcellus Daily news
- Downward trend limited by weak LNG market: traders
- LNG imports to Europe down 20% on year
- Tank top to be reached earlier in year: traders
LNG and natural gas prices are expected to weaken as the EU’s gas storage sits reach tank top during the third quarter, sources said. This downward trend is expected to be limited, however, supported by the need to attract a sustainable amount of imports in a tight LNG market.
According to historical data from S&P Global Commodity Insights, after continuously falling from the highs of January 2023, the Dutch TTF front-month contract began to trend higher in June of the same year, albeit within volatile ranges. After trending higher, the contract peaked on Oct. 13, as Gas Infrastructure Europe data showed EU storage sites on that day were 97.69% full.
While higher year on year, sources say they still expect TTF prices to fall as the continent’s storage sites reach tank top in the third quarter.
prices will not recover unless production is cut> plain and simple
Interesting story from Aegis- ng impacts
Interesting story from Aegis
https://aegis-hedging.com/insights/why-hurricanes-now-pose-a-bearish-risk-to-gas-prices?utm_campaign=AEGIS%20First%2FLast%20Market%20Looks%20%26%20Alerts&utm_medium=email&_hsenc=p2ANqtz-9hZ4pvsFG64LiNqG13BikUxRQPN8Z_4ySrkZuFlhhy25Hio8Ogvayo97fs_ezKyjCsGHgKL_cMYYg4g4IxiaU_oOLLgA&_hsmi=315947975&utm_content=315947975&utm_source=hs_email
https://aegis-hedging.com/insights/why-hurricanes-now-pose-a-bearish-risk-to-gas-prices?utm_campaign=AEGIS%20First%2FLast%20Market%20Looks%20%26%20Alerts&utm_medium=email&_hsenc=p2ANqtz-9hZ4pvsFG64LiNqG13BikUxRQPN8Z_4ySrkZuFlhhy25Hio8Ogvayo97fs_ezKyjCsGHgKL_cMYYg4g4IxiaU_oOLLgA&_hsmi=315947975&utm_content=315947975&utm_source=hs_email
from flynn on ng
Natural gas is up a little bit this morning and trying to hold its ground after some fundamentals that normally would be very bearish.
Reports show that the Freeport LNG export project in Texas canceled at least four scheduled shipments because of Hurricane Beryl, according to Bloomberg News. Extended power outages in Texas also should have hurt demand and now there are some worries on the production side. Maybe once again producers will produce us into a glut.
Celsius Energy tweeted that with natural gas prices now seemingly on the fast track back to $2/MMBTU, commodity traders may reinforce producers to re-institute production shut-ins to restore S/D balance. So far, we have not seen this with output holding near multi-month highs just shy of 102 BCF/d.
Yet despite all these fears technically the market seems to be holding in there. It’s almost as if the market’s looking ahead to what they believe will be record demand for natural gas.
The anticipation of record liquefied natural gas exports in the United States and more hope that it will increase in the years ahead. Now the industry has renewed hopes that US LNG exports will support prices and create jobs. Now the real possibility that a Trump Vance ticket will mean that the United States will dominate the exporting clean liquefied natural gas to the world. That will lead to reducing coal emissions and help reduce carbon faster than any wind turbine or solar panel ever could.
Reports show that the Freeport LNG export project in Texas canceled at least four scheduled shipments because of Hurricane Beryl, according to Bloomberg News. Extended power outages in Texas also should have hurt demand and now there are some worries on the production side. Maybe once again producers will produce us into a glut.
Celsius Energy tweeted that with natural gas prices now seemingly on the fast track back to $2/MMBTU, commodity traders may reinforce producers to re-institute production shut-ins to restore S/D balance. So far, we have not seen this with output holding near multi-month highs just shy of 102 BCF/d.
Yet despite all these fears technically the market seems to be holding in there. It’s almost as if the market’s looking ahead to what they believe will be record demand for natural gas.
The anticipation of record liquefied natural gas exports in the United States and more hope that it will increase in the years ahead. Now the industry has renewed hopes that US LNG exports will support prices and create jobs. Now the real possibility that a Trump Vance ticket will mean that the United States will dominate the exporting clean liquefied natural gas to the world. That will lead to reducing coal emissions and help reduce carbon faster than any wind turbine or solar panel ever could.