|Day's Range||2.8540 - 2.8710|
The U.S. power sector’s pivot away to cleaner energy sources has led to trouble for some domestic energy companies which placed massive bets on coal in the past
The U.S. Federal Energy Regulatory Commission on Tuesday approved Venture Global LNG Inc's request to proceed with full site preparation at its proposed $4.5 billion Calcasieu Pass liquefied natural gas ...
Where Natural Gas Prices Could Head This WeekNatural gas’s implied volatility Yesterday, natural gas’s implied volatility was 19.8%, ~6.6% below its 15-day moving average. Since February, natural gas’s implied volatility and prices have
Crude oil bulls underpinned by positive crude oil price and weaker USD ahead of Fed forward guidance update and the pair is likely to trade range bound until the pair gets a clear directional bias.
Bill Moler has been executive vice president and COO of Tallgrass Energy LP, a Leawood-based midstream energy infrastructure company (NYSE: TGE), since it was founded in 2012.
The stock markets continue to grind higher overall, as the S&P 500, Dow Jones Industrial Average, and the NASDAQ 100 all have reach to higher levels. That being the case, it looks very likely bullish and it should continue to be a situation where value hunters come back in.
Natural gas markets initially tried to rally during the trading session on Tuesday but ran into a bit of resistance at the 50 day EMA. That EMA of course is very important, so it looks like we may be pulling back due to technical trading.
The GBP/USD pair continues to try to grind higher during the trading session on Tuesday, but obviously we have a lot of work to do before breaking out. Eventually, it looks as if we will, and once we do we could go much higher.
Vitol reported higher traded volumes last year on Tuesday, cementing its position as the world's largest oil trader, and said it expected oil demand growth to peak by around 2034. The estimate for demand growth to begin falling is later than before, despite global efforts to reduce carbon emissions from using oil. Vitol's chairman Ian Taylor said in late 2017 he saw oil demand growth peaking by 2028-2030.
The British Pound fell yesterday afternoon after the House of Commons Speaker John Bercow essentially banned Theresa May’s Brexit deal from getting a third vote. Although prices later recovered, this once again highlights the tremendously fluid Brexit equation that markets have to contend with.
Natural gas futures are soaring on Tuesday after a surprise change in the weather forecasts late Monday caught short-sellers off-guard, forcing them to aggressively cover their positions. At 13:46 GMT, May natural gas is trading $2.883, up $0.027 or +0.95%. Most impressive warming will take place this weekend with highs of 60s and 70s spreading out of the southern US northward for lighter national demand.
Gold, silver, and copper are trading up amid dollar weakness. Palladium rallied to all-time highs on speculations of Russian exports ban.
Natural Gas: An Important Update for TradersNatural gas At 3:34 AM EST on March 19, natural gas prices were almost unchanged from the last closing level. On March 18, natural gas April futures rose 2% and closed at 2.85 per MMBtu (million British
Brazil's state-run oil company Petroleo Brasileiro SA said on Tuesday it had started production at its P-77 platform, its fourth platform to enter operations in the Buzios field within the pre-salt region of Bacia de Santos. Petrobras, as the company is known, had said the platform would commence production in the first half of 2019. In a securities filing, Petrobras said the platform can produce 150,000 barrels of oil and up to 6 million cubic meters of natural gas a day.
The gold market was initially sideways but gained enough momentum later in the session to break above the $1300 level. A break above $15.50 level would be extremely positive and could send the silver prices to reach much higher towards the $16 level and much higher. The crude oil prices inched higher during yesterday’s session towards the $60 level, as it is trying to break above the 200 Day EMA slope.
The RBA meeting minutes pinned back the Aussie Dollar early on, in spite of U.S Dollar weakness. Focus remains on Brexit and “the deal.”
Oil futures gain on Monday, with U.S. prices climbing back to the highest finish since November, as OPEC and its allies look set to continue their production cuts through June.
Silver markets initially pulled back during the opening part of the Monday session, but turned around to show signs of life again. That being the case, it looks as if we are going to test the crucial $15.50 level again.
The British pound fell during trading on Monday originally, but did find buyers underneath as we turned around to form a bit of a hammer like candle mid-day. This suggests that perhaps traders are willing to come back in and pick this market up.
Technical factors are also combining with concerns over demand to produce weaker results early Monday. These factors should continue to exert a bearish influence throughout the session. Look for lower prices today unless optimistic news about a trade deal between the U.S. and China is announced.
The May natural gas futures chart is bearish. The main trend is down according to the daily swing chart. Today’s early weakness helped form a new lower top at $2.864. It’s early, but this week’s EIA draw is predicted to come in close to the 5-year average of -56 Bcf due to a mix of mild and cool last week.
It’s risk-on through the early part of the day, which sees the Dollar on the defensive once more, A light economic calendar put the FOMC in focus.
Based on last week’s price action and the close at .7087, the direction of the AUD/USD this week is likely to be determined by trader reaction to the main 50% level at .7079.