The gold market has been looking for more uncertainty and we are seeing it this morning.
The attacks in Nigeria on a pipeline, and the kidnapping of oil workers is nothing new for that region.
The disruption in general seems to have reminded the refineries of their vulnerability and the power of Mother Nature. Gasoline production is destined to be affected, and at the end of the day, the production impact for natural gas and oil will be significant.
Individuals are always looking for a new, hot commodity, and weather futures are just that.
The sell-off is due to all the locals grabbing profits before the end of the day, nothing more.
The times will come down and we'll be competitive.
[There are] just too many uncertainties to expect these prices to back off by much, ... very shortly.
We're off to a slow start.
Things got really heated up over this Iran thing, and traders hate leaving such big profits on the table for news that could change at any moment.
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