Natural gas bounced sharply off the lows today as it hit a major support level.
Crude Oil had a furious rally on the back of russia ukraine peace talks falling by the way side.
As Crude oil gets more expensive and rises....it forces many industrials to start purchasing and using Nat Gas as their main energy source to run their plants.
I am personally witnessing this with a friends company switching from oil to nat gas yesterday.
If many industrials do this... this should cause a larger demand for Nat Gas and less demand for Oil.
Crude Oil had a furious rally on the back of russia ukraine peace talks falling by the way side.
As Crude oil gets more expensive and rises....it forces many industrials to start purchasing and using Nat Gas as their main energy source to run their plants.
I am personally witnessing this with a friends company switching from oil to nat gas yesterday.
If many industrials do this... this should cause a larger demand for Nat Gas and less demand for Oil.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.