Natural Gas Screams to Record Highs On Smaller-than-expected Rise in U.S. Stocks– Buy Call Options
Natural gas prices turned sharply higher Thursday following a two-day slide. The commodity hit the highest since December 2014 at $3.347 per million British thermal units after the U.S. Energy Information Administration reported that natural gas supplies rose 79 billion cubic feet for the week ending Oct.7th.
The increase in stocks was below analyst estimates that had called for a rise of 87 billion cubic feet.
According to the report, total stocks now stand at 3.759 trillion cubic feet, up 56 billion cubic feet from a year ago and 192 billion cubic feet above the five-year average.
Buy Stop at 3.350, Take profit at 3.380, Stop loss at 3.320