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LIGHTNING ROUND: Isaac creating a hurricane in energy prices

Tuesday, August 28, 2012 - 02:03

Aug. 28 - NYMEX trader Ira Eckstein says volatility is the name of the game in energy markets right now, and that if Hurricane Isaac doesn't do a lot of damage, prices will tumble quickly.

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All I've got to. I think at that -- we're okay we're on the nymex broke lightning round with greater directing. I know well -- what's the storm that you. Right as well as of right now obviously it's higher volatility in the name of the game we could have spikes of a dollar comes off for so you're treated is definitely the place to be. What contract is most impacted. Well definitely gasoline and then we could see that right now it. As of yesterday was receptive to indicate wolf a little bit as of today but that -- really spiked golf if there's any real disasters that -- coming up. Defiant despite how high quality go to 325330. Pretty easily but as soon as it justice through seventeenth. But depends on how long if it gets upgraded how long and how long -- storm left in the damage. At what oil was up by the way that book if prices go much like to hear that word your hundred dollars nightly basis price but 97 was our recent high. Literally have anything. Major impact -- -- -- that in the eighties pretty quick. How different is positioning themselves generally as we head into the heart occurred while natural -- is really volatile so you know -- Right Longoria through July August for the season which usually ends in November. -- in the last few years we haven't really had a big impact about seven years so -- you -- long every year you were wrong and this is the one that could hit itself. Strategic petroleum reserve may be gets off the table for now traders wanted to. -- -- -- -- I don't think this would be good enough reason to. Draw from the strategic industries I think fundamentally -- plenty of well right now. The best lead this country is known as well from the U user. What's the biggest risk for traders -- next 48 hours when life story. Biggest risk is if it kind of just gets downgraded. And you bet your money you gonna go longer this thing called the office of a couple of really -- Directing -- topic I I'm Rhonda schaffler this Ryder.

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LIGHTNING ROUND: Isaac creating a hurricane in energy prices

Tuesday, August 28, 2012 - 02:03