Oil prices started to give in to expectations of slowing demand, but it was the dollar to the rescue. Oh sure some traders are worried about Tropical Storm Dorian and its track, but it will be Hurricane Ben Bernanke that may be the major factor.
Australia's massive mineral exports allowed it to weather the global recession, which began in 2008, quite nicely. Recent reports show it may be sitting on untapped oil reserves 80 times larger than the Eagle Ford U.S. shale deposits.
Why all this interest in the long side of natural gas? Because the hedge funds realize that we are crossing that historic turning point in this market where demand growth expectations will start to outstrip production increases.