Oil 640 12
Gas 219 -9
Oil goes down in early September because driving season is over, hurricane season is over and maybe because they are preparing for the winter feul blends.
Can't go that far... If we focus on next week's report, it's cooler this week than last week therefore the injection next week should be higher than today's 75. Probably somewhere between 89 and 101.
The Western part of the country is in a heat wave and not able to inject much, only 7
While the Eastern part of the country is cool and has injected 53
Next week's number should be in the high 80's since the east is even cooler this week than last week.
The EIA announced this morning that working gas in storage was up 75 Bcf last week to 2.508 Tcf. The injection was 13% lower than last year (+86 Bcf) and 32% below the five year average (+110 Bcf). The current storage level is now 38.3% higher than last year (1.813 Tcf, a difference of 695 Bcf) and 1.4% above the five year average (2.473 Tcf, a difference of 35 Bcf.
Will it happen again today? Not sure but I bought some UGAZ at 2.31 We will see after 2h00 p.m. once the Fed speaks.
Honda Motor Co. is giving up on its compressed-natural-gas Civic, 17 years after introducing the model in the U.S.
The Japanese auto maker also is discontinuing the hybrid versions of its Civic and its Accord sedans.
John Mendel, executive vice president of American Honda, said the discontinued models had very little demand and the company is now focusing on a new set of technologies. They include a hydrogen-fuel-cell model due out in 2016, as well as an unnamed plug-in hybrid and full-electric vehicle that will go on sale by 2018.
Mr. Mendel said the new vehicles are intended to be high-volume models.
Honda’s compressed-natural-gas offering set it apart from other car makers, though a few others market pickup trucks powered by CNG.
Guess people are buying DGAZ hoping for a lower NG price tomorrow.
Maybe today's price action is a little bit over done?
I just sold my UGAZ with a 0.30 $ profit per share at 2.40 from 2.10 last Friday.
I'm probably going to get back in with my principle amount less profits before 4:00 p.m.
Remember the weather last week was cooler than the week before.
Injection will be higher than 132 this week
Gamblers will be hooked today.
More and more talk about interest rates rising this September for sure. Maybe June. Just +0.25% That will cause US dollar to go up forcing Oil to go down in price against other currencies. NG usually follows Oil plus rising NG stocks looks very bearish for NG