I am hard pressed to understand why a fire involving natural gas would affect the price of oil.
Of course, to the layman, gas and gasoline are the same thing. But traders should know better.
We must of had a lot of natural gas fires for the past year. Maybe you have the imagination to blame it on something else.
From what I can tell the market is so jittery and supplies are so tight that anything going wrong in the system makes people go crazy. It isn’t sustainable and I wonder what the correction is going to look like
I was hard-pressed to understand how a refinery explosion at a rather small refinery in West Texas (.4 percent of US output) would cause the price of oil to rise. IMO speculators are driving commodities bonkers.