Wrap – Week Ended 3/27/20



Questions and comments under The Wrap will be addressed in the Monday post.


There were no trades last week. The Blotter is updated.


Be safe, stay home (or like us go to wide open spaces with no people), and wash hands.


8 Responses to “Wrap – Week Ended 3/27/20”

  1. 1
    Baylor Says:

    Pretty striking to see the NG short position unwind from over 500,000 short to 300,000 and have NG price still be destroyed.

    a YOLO bet may be presenting itself.

    I don’t usually do YOLO bets but other bets have had similar results so i may have to consider it. ha!

  2. 2
    zman Says:

    re 1

    • margin requirements were increased.
    • fundamental improvement not yet in collective energy mind thinking.
    • supply was off 1.5 Bcfgpd YoY last week
    • thought of natural gas associated with potential oil well shut ins also not from what I can tell in the collective thinking, certainly have not seen the energy media note it.
  3. 3
    elduque Says:

    I agree with you re Nat Gas. Looking forward to a gassy update.

  4. 4
    nrgyman Says:

    RE 2: How much will flared natgas substitute for associated natgas that becomes shut-in, freeing up the takeaway capacity for natgas?

  5. 5
    zman Says:

    The Monday post will be out around 1 am EST.

  6. 6
    nrgyman Says:

    PXD and EPD are asking producers to voluntarily reduce production. Storage capacity limits in sight.

  7. 7
    zman Says:

    re 6 – addressed in the subscriber mailbag in tomorrow’s post.

  8. 8
    zman Says:

    $20 test in progress.
    Mid-Cush April to -$8.
    Shut ins can’t be far away.

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