It's a perfect cocktail: extreme fears about the new covid variant in one of the lowest liquidity days of the year, plus Brent breaking below key support (100-moving day average) and lots of negative gamma kicking in. And you have a flash crash.
The selling in /CL seems a bit overdone...LOL.
- US LNG exports hit a record high.
- Natural gas pipeline flow to LNG export facilities rose to 12.3 bcf on Thursday, the highest ever.
- Flows to Sabine Pass jumped after Train 6 began producing LNG earlier this week
The media & politicians have done such a good job instilling fear in everyone that markets are ignoring the fact that Merck & Pfizer both have highly effective antivirals available now. Major cap-ex investments will be further delayed setting up higher prices next year & beyond.
This is like announcing a new pneumococcal bacterium and forgetting we have penicillin. LOL.
EOG Resources plans its first move into Australia following acquisition of Western Australian Bonaparte Gulf permit WA-488-P containing the Beehive prospect from Melbana Energy. Direct to article.
This pretty much says it all, from Bismarck Tribune:
a light day of testing on Thanksgiving led to only 174 new Covid-19 cases being confirmed in North Dakota, down from an average of 619 the previous three days. I don't think the writers / editor caught the irony. LOL. Link here.
And finally:
What agency is warning folks about the new variant? WHO.What country controls WHO? China.What country is facing a huge energy crisis. Let's change that. What country was facing a huge energy crisis? LOL.
Okay, one more:
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