Morning Scope 4

By Paul Sankey Published on September 23, 2022 at 9:30 AM

Brooklyn Cop at 844th Precinct accuses innocent Sankey of being “weird-looking” “They” got caught speeding yesterday: fast unwind of long natgas / short refining trade Terrific Happy Hour with Jay Saunders and a couple of other hitters last night; introducing Scope 4 Jennison portfolio manager (PM) Jay Saunders is very popular in the market, you can tell that by the players that dialled in to participate in his call yesterday. He co-runs the Jennison Natural […]

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Natgas Prices, Arbs, $AR, and Snoop

By Paul Sankey Published on June 15, 2022 at 7:01 AM

Our main concern about the Freeport LNG export outage is that it inspires some “consumer hero” politician in Washington to justify an export ban on oil & gas. The price impact of a cut to gas exports was dramatic yesterday, -15% on spot Henry Hub; Freeport said it would be out for 90 days, end 2022 full resumption. It is imperative that Washington understands the importance of free trade and the role in US oil […]

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May Day Sunday Sankey 5/1/22

By Paul Sankey Published on May 1, 2022 at 2:48 PM

Happy May Day Sunday, Today in partnership with Greg Bordelon of Isentropic Capital, we publish a note on natural gas markets by way of thesis overview to a theme that we will continue to pursue. The note is long graphics, and particularly interesting on US markets. If you only want to read half, read the second US half. It is as noted graphic intense. European gas markets are fundamentally far more un-analysable than US right […]

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