Sunday, August 31, 2008

Gustav takes aim at N'awlins, oil prices

I think the story is in NATGAS rather than crude. If Gustav is anywhere near what Katrina was, the effect should be more pronounced in Natgas.

What with the Russian imbroglio and Natgas already heavily oversold, I expect gas to go upto 10.5. For the record I am long UNG at 38.5.

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