The last few days have been interesting ones for crude oil (USO, quote) traders, with the commodity mirroring the volatile price action and associated volume profiles of related markets, and suggesting in turn, that we may be approaching a pause, and possible bottom to the current bearish trend.
Natural Gas traded higher settling $3.47, up $0.033 0.9%. The curve was mostly firmer (outside of X/F $0.027 weaker, UNG concludes tomorrow), J13/F14 $0.017 firmer, 14/16 little changed. J13/F14 -$0.528 approaching highs ~$-0.52 (charts/seasonality below). Hub cash was ~$0.19 back this morning, Z-6 down $0.05 to $3.40.
Welcome to Wednesday’s Morning Coffee Break – Yesterday’s rally of triple digits on the Dow Jones Industrial and over 14 points in the S&P 500 has put U.S. markets back in the green for the month of October, just 8 session before Friday’s 25th anniversary of the 1987 stock crash.
