Volatility in natural gas prices helped to boost US hedge fund earn profits of over $400million in October.
- Miami-based Statar Capital, which manages around $2bn in assets and is headed by Ron Ozer, generated nearly 23.5 percent last month.
- The profits mark a rebound after Statar suffered a major loss of nearly $130 million in the first two-and-a-half weeks of September.
- Natural gas prices have surged this year as demand has recovered and supply has been strained, but the market has been turbulent in recent weeks.
- UK gas prices, which were 500% up for the year early the previous month, have dropped along with continental European prices during October.
US prices on commodity futures exchange Nymex swung during October, rising to nearly $6.40 per million British thermal units at one point after shortly dropping below $5, only to recover again.
Natural Gas Price is up +1.89%