Rumours of a hedge fund in trouble in a big way by betting on an increase in price and not covered. No idea how true, but it does seem to give an added boost to the drop in price over semi expected figures and mild weather with colder weather approaching.

That's the sort of thing ELRM, though it may or not be true this week's price action smells strongly of something like that. Just like the Amaranth effect on NG after Goldman Sachs changed their commodity index weightings - as Hellasious mentions above. It's always difficult to guess how far such effects will go, could briefly drop to near $50 or bounce from $55; whichever, I'd bet WTIC oil will be back at $60 in a handful of weeks then go higher towards the late March / April recently normal seasonal peak.

NFP printed high: $ bounced, gold tanked, stocks might take mild fright as the spectre of no rate cuts for at least 6 months jumps out of a corner of their minds.