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’Geneva snow havoc!
Let’s face it, snow in southern England is a bit of a rarity.
Consequently, it’s quite understandable that when the occasional dump occurs transport chaos, truancy and mindless sledging-related accidents are common place.
And now weather-related shipping congestion
The natural gas, citrus, rock-salt and distillate markets have all been affected by colder than usual winter temperatures.
And just when you thought there couldn’t possibly be any more weather-related markets stories,
When cold is good
Recent cold weather in the northern hemisphere may be putting pressure on natural gas and rock-salt supply, but there’s one imbalanced market where the big chill is probably very welcome indeed.
We’re talking here about the refining business and related oil products market.
The ‘smoking gun’ in natgas
Nymex natgas futures rolled from the October to the November contract on Monday. The effect of which was as follows:
The above move comes despite more than ample supply in the physical prompt market,