Huge decline in Natural gas down over 90 cents. Oil and gasoline getting clobbered as well as Hurricane Dean will have no impact on the Gulf of Mexico energy areas. Meanwhile the overall market is lower but nothing tragic. MLPS are flat after being up 2 points on the index earlier.
Suburban Propane is up 1. Fractional gains and most of these are off their highs include Hiland LP(HLND) Hiland GP (HPGP) EV Partners (EVEP) Oneok LP (OKS), Inergy Holdings (NRGP) and Sunoco Logistics (SXL)
Nustar Holdings (NSH) is down 3 and that could be in reaction to gasoline which is down 10 cents. Duke Midstream (DPM) and Markwest Hydrocarbon (MWP) are down 2 each. 1 point minus signs in Copano (CPNO) Linn Energy (LINE) Breitburn (BBEP)...fractional minus signs in Buckeye Holdings (BGH) Regency (RGNC) Alliance Holdings (AHGP) and a few others.
Its not often you see 1 dollar moves in natgas and UNG is down 5 dollars. I guess its the energy markets turn to deflate.
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- joewxman
- a meteorologist with a knack for trading and investing in MLPS! I also like horse racing, enjoy cigars and a good port wine.
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2 comments:
weird about nat gas today.Even though dean avoided US rigs in the gulf it still gonna shut down mexican rigs to the the tune of 2.6 bcf daily according to petromex. Thats a pretty good hit by a cat 5 hurricane. May take a while to get back up and running
won't ba a cat 5 when it gets to the sw gulf. barely a 1. I guess the market priced total catastrophy. Look at gasoline down 11 cents.
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