Tuesday, January 3, 2017

"Oil, Natural Gas Give Up Early Gains To Start 2017 In The Red"

From Barron's Focus on Funds:
Energy didn’t have a good start to the new year, with both oil and natural gas falling Tuesday, erasing earlier gains.

Crude for February delivery lost $1.39 per barrel, or 2.59%, to $52.33, its third session of losses. The decline came after futures hit an 18-month high in morning trading, as investors took the opportunity for profits.

Oil ended the year in the black for the first time in three years in 2016, rising 45%.

Elsewhere, natural gas sank to the lowest level in nearly two years on forecasts of a milder winter. Natural gas for February delivery lost 39.70 cents per million btu’s, or 10.66%, to $3.3270 per million btu’s. That’s it’s largest one-day dollar and percentage decline since February 24, 2014....MORE
I did the strikethrough because it is apparent the writer was having two thoughts at the same time.
I hope she would do the same for me.

Here's the last 14-day's action in natural gas, earlier today I was close to having Admiral David Beatty make an appearance*:

*Although I had posted the story a few times previously, the most memorable usage was on September 15, 2008:

Things that make you go "Hmmm" (AIG; LEH)
Watching Lehman crossing on the tape at two bits. The world's largest property casualty insurer in the $5's. Hmmm.
There's something wrong with our bloody ships today, Chatfield.*
*Comment of Admiral Beatty after seeing 2200 of his sailors disintegrate. Idiot.
He was, of course, promoted, appointed First Sea Lord and granted an Earldom.
We had a couple posts where the Admiral made an appearance:
The Stock Market and the Battle of Jutland
2015's "Today in the Financial Crisis, Monday September 15, 2008: A Run on the Entire Financial System" has a pretty good overview of what was going on that day in 'aught-eight.