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After sinking anew overnight to nearly $2.20, natural gas futures have reversed, spiking...

After sinking anew overnight to nearly $2.20, natural gas futures have reversed, spiking violently in the past few minutes, now +6.4% at $2.55. There's no specific news at the moment, but earlier word Chesapeake Energy (CHK) is cutting production may have been enough of a catalyst to toast some greedy shorts.
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Comments (2)
  • Barry Crocker
    , contributor
    Comments (454) | Send Message
     
    Near 16% swing is comical.
    23 Jan 2012, 08:31 AM Reply Like
  • Bill Francis
    , contributor
    Comments (53) | Send Message
     
    They've pretty much announced a shut-in of almost a full percentage point in total US output. This is the single biggest news event to hit the nat gas futures market since the Hurricane Gustav in 2008. Funds have got to be loading up on some 2013-2015 contracts with CHK threatening to up the output curtailments to 1.5%+ if the markets don't react like they should.
    23 Jan 2012, 10:02 AM Reply Like
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