February 2021 natural gas blowout
Curious to hear thoughts on the shitstorm week of Feb. I haven’t heard of a single bank/trading house/marketer that didn’t absolutely blow away their PnL targets. Utilities and retail companies seem to be the ones eating most of the shit sandwich, along with those who sold to companies straight up refusing to pay the bill (cough CPS energy). Who have you heard were the big winners and losers here? What a time to have been in the market.
Hey mr gassy, I'm here because nobody responded to this thread after a few days...maybe one of these resources will help you:
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Goldman still trying to get their money from CFE
Macquarie still tied up in legal with XTO
Citi had wind hedges that went awfully bad
BAML crushed it on ercot power
Hartree, Citadel best year ever
XTO halted financial trading for a good while
Apache did well
CFE got hosed
What about the supermajors and trade shops?
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SPOT ON
Conoco had major physical positions so did well
Uniper crushed it
Talen not good, not bad
BP crushed it, of course
All 2Bcf/d of trafi sales are to CFEi so you can imagine how that is playing out
Vitol isnt big in the natty market but maybe power did well
Lots of people got lucky with a small position and did well
Definition of "crushed" hah a bit different than others. Aka Hartree vs Citadel. But all very right info.
Citadel biggest winners, followed by BP. Mercuria top merchant winner. MacQ once they get all their money as well. Freepoint like Hartree did very well on Texas storage market. CCI who bought all that Enstor storage, did very well on TX storage but that was it. Common theme here...
Shell did not perform as usually expected and has lost majority of their top power people in 6 weeks here to other shops.
Also think heard MS did well.
Lots of small fund will never trade ERCOT again.
how did sinn do?
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