​​The Two Minutes That Made Traders Lose Faith in the Gas Market


The window for a win was extremely narrow but, heading into the close, odds were good. Prices had crashed through the $7 level and then furiously rallied to $7.31 with 68 seconds to go before the end of the settlement period. Then came the circuit breaker. Though investors were flying blind, bids and offers continued to stream in which, if executed, would have driven the price to $7.40, according to traders. But because the trading halt lasted so long – only lifting after the market close – those transactions weren’t fulfilled. The settlement price posted at $6.95, rendering the lottery ticket options worthless.



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