NGF20.NYM - Natural Gas Jan 20
| Pre. Settlement | N/A |
| Settlement Date | 2019-12-27 |
| Open | 2.2480 |
| Bid | 2.2820 |
| Last Price | 2.2430 |
| Day's Range | 2.2440 - 2.2960 |
| Volume | 20,523 |
| Ask | 2.2800 |
- Quartz
A documentary that will never let you see plastic the same way again
It's hard to understand the full lifecycle of a material we touch and use every day. This helps.
- Reuters
UPDATE 1-Vitol signs 10-year deal to buy Nigeria's LNG from 2021
Commodities trader Vitol has signed a 10-year deal with Nigeria Liquefied Natural Gas (NLNG) to buy 500,000 tonnes of LNG per year, ramping up its long-term presence on the market. "The agreement underscores NLNG’s drive...to deliver LNG on a global scale in a low carbon world where gas/LNG will continue to be the preferred complementary energy source alongside renewables," Vitol said in a statement. The deal also helps NLNG remarket volumes from existing production lines at its Bonny Island plant with a number of contracts due to expire.
- Bloomberg
World’s First Liquid Hydrogen Ship Debuts in Green Economy Boost
(Bloomberg) -- The world’s first liquefied hydrogen carrier made its official debut at a shipyard in Japan, a small step toward tapping the carbon-free energy potential of the lightest element.Kawasaki Heavy Industries Ltd. christened the tanker Suiso Frontier during a ceremony at the Kobe Works yard on Wednesday. The ship will be used for technology demonstration to establish an international hydrogen energy supply chain, Kawasaki said in a press release, by shipping the fuel from Australia to Japan. Construction is expected to be complete by late 2020.Hydrogen can be produced using water and electricity, and then stored and shipped and re-used to generate power, allowing countries with little space for wind and solar equipment to still receive carbon-free power. It can also help decarbonize a range of sectors, from long-haul transport to steel-making, from which it’s otherwise difficult to remove emissions.However, it’s also volatile and flammable, while current production techniques are polluting and costly, the International Energy Agency said in a June report that touted the fuel’s potential. Policies and incentives should be put in place now to help reduce costs and scale up the sector, the agency recommended.The ship will have storage capacity of about 1,250 cubic meters, less than 1% of the size of liquefied natural gas carriers. The vacuum-insulated, double-shell tank will be able to hold hydrogen chilled to -253 degrees Celsius (-423 Fahrenheit), which shrinks the volume of the gas to 1/800th of its normal size. The ship will run on diesel.\--With assistance from Stephen Stapczynski.To contact the reporter on this story: Dan Murtaugh in Singapore at dmurtaugh@bloomberg.netTo contact the editors responsible for this story: Ramsey Al-Rikabi at ralrikabi@bloomberg.net, Jasmine NgFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
- FX Empire
Gold Price Futures (GC) Technical Analysis – Fed Comments Supporting Potentially Bullish Chart Pattern
The chart pattern and the Fed’s comments are potentially bullish, however, gains could be limited over the near-term if the United States and China reach a trade deal before the new tariffs are supposed to kick in on December 15, or if President Trump announces a delay in those tariffs on Chinese imports.
- Oilprice.com
Chevron’s $11 Billion Write Down Is A Warning For The Oil Industry
Chevron’s $11 billion assets writedown isn’t the first, and will surely not be the last in what could turn out to be a string of assets writedowns caused by low commodity prices and a negative growth outlook
- Benzinga
Reaction In The Diesel Market To IMO 2020 Is Still To Come: Platts
There has not been a reaction in the diesel market yet because of IMO 2020, but the analytics team at S&P Global Platts doesn't think the transition has played out. In leading a media briefing this week to lay out its forecast on key oil trends next year, Platts' global director of analytics Chris Midgley (pictured above) noted a few transitions that have yet to kick in, both of which could contribute to market volatility. Specifically, Midgley noted that shipowners transitioning away from high-sulfur fuel oil to marine gasoil, which is a diesel product, can make that transition easily.
- FX Empire
Crude Oil Price Update – Pivot at $58.68 Controlling Near-Term Direction
Based on the early price action and the current price at $58.51, the direction of the February WTI crude oil market into the close is likely to be determined by trader reaction to the minor pivot at $58.68.
- Reuters
Trafigura's LNG volumes jump by 27% on new trade flows, contracts
Trafigura Group, the global commodity trader, increased its annual liquefied natural gas (LNG) trading volumes by 27%, driven by trade flows and the start of new contracts, the company said on Wednesday. Volumes rose to 12.6 million metric tonnes equivalent this year, which included the start of shipments under the company's 15-year agreement to lift supply from Cheniere Energy as well as several other mid-term contracts, Trafigura said in its annual report. "With weak demand in Asia redirecting trade flows, the European market absorbed the bulk of our Atlantic cargoes, often in conjunction with our natural gas desk, while we continued to build our position in the Far East with regionally sourced LNG," the company said.
- FX Empire
NZD/USD Forex Technical Analysis – If .6515 Fails, Look for Selling to Extend into .6497 to .6485
Based on the early price action and the current price at .6529, the direction of the NZD/USD the rest of the session is likely to be determined by trader reaction to the downtrending Gann angle at .6546.
- FX Empire
European Equities: No Stats Leaves Geopolitics and the FED in Focus
It could be another testy day ahead for the bulls, with uncertainty over trade and the UK election coinciding with the FED’s final policy decision…
- FX Empire
Natural Gas Price Prediction – Prices Edge Higher but Hedge Fund Remain Short
Natural gas prices edged higher on Tuesday, but and continue to form an additional bear flag pattern. Hedge funds continued to add to short positions in futures and options according to the latest commitment of trader’s report. The Department of Energy is scheduled to release its inventory report on Thursday.
- Reuters
Chevron expects $10 billion-$11 billion charge in fourth quarter; plans asset sales
The second-largest U.S. oil company, which plans to hold its 2020 spending program flat at $20 billion, said it may sell shale gas properties and its stake in a Canadian liquefied natural gas project. San Ramon, California-based Chevron and other energy companies have pledged to restrain spending after the collapse in oil prices earlier this decade forced many to borrow to cover the costs of long-term projects. Chevron said it expected writedowns this quarter related to a deepwater Gulf of Mexico project, which needs higher oil prices to churn a profit, and shale gas in Appalachia, which has suffered from low natural gas prices.
- Oilprice.com
Two Bullish Factors Pushing Oil Prices Higher
An apparent improvement in the trade war and the OPEC+ agreement have boosted bullish sentiment in oil markets, with both Brent and WTI up on Tuesday morning
- FX Empire
Natural Gas Price Forecast – Natural Gas Markets Trying To Recover
Natural gas markets have done very little during the trading session on Tuesday, but after the massive gap on Monday one would have to think that’s a bit of a victory.
- Oilprice.com
This Exploration Blind Spot Offers Great Promise
Increasing political unrest and insufficient technical understanding of the area has made Lebanon’s offshore a very promising area that’s still largely unexplored
- FX Empire
European Equities: The Trade Obsession Will Sideline the Stats
It could be another day in the red for the majors as sentiment towards trade turns sour. Any positive data will be overshadowed by any trade talk…
- Oilprice.com
Canada's Oil Crisis Isn't As Bad As It Seems
Alberta’s oil industry has faced crisis after crisis, and while Canada’s oil province continues to face export bottlenecks, its future isn’t looking as bleak as many may think
- The Wall Street Journal
Warm Winter Weather Prompts Lower Natural Gas Price Forecasts
Natural gas prices fell Monday amid fears that warmer-than-normal winter weather won’t drive enough demand for the heating fuel to counter surging output.
- FX Empire
USD/CAD – Canadian Dollar Steady After Mixed Construction Data
The Canadian dollar is steady on Monday, after weak Canadian job numbers sent the currency lower on Friday. EUR/GBP has dropped to its lowest level since May 2017, as the pound continues to gain ground.
- Quartz
Danone is showing multinationals the way to a less destructive form of capitalism
As the realities of climate change meet the injustices of wealth distribution, many people are struggling to see how capitalism in its current form can stay relevant. It has a global staff of 100,000 and operations stretching across Europe, Asia, and America, where it sells a range of familiar products, from dairy foods (including the yogurt, called Danone or Dannon, depending where you live) to baby formula, Evian to almond milk.
- American City Business Journals
Midstream giants to partner on deepwater terminal for VLCCs in Gulf of Mexico
The offshore terminal will be able to load Very Large Crude Carriers (VLCCs) at rates of approximately 85,000 barrels of oil per hour, or up to approximately 2 million barrels per day.
- FX Empire
COT: Speculators Cut Exposure in Pro-Cyclical Commodities
The COT report covering the week to December 3 found speculators selling pro-cyclical and trade war impacted commodities. This after Trump blurted a trade deal could be delayed until after the November US Presidential election. Hardest hit were crude oil, natural gas, copper and soybeans while gold, corn, sugar and wheat were bought
- FX Empire
Price of Gold Fundamental Weekly Forecast – Trade News, US Economic Data Will Drive the Price Action; Fed to Hold Policy Steady
This week, the Fed meets again to announce its rate policy after cutting the Federal Funds rates three time in 2019 to between 1.50 – 1.75%. Look for the Fed to hold rates steady.
- Reuters
Saudi Aramco's shipping arm looks to charter tankers in LNG foray: sources
Saudi Aramco's shipping arm Bahri has issued an expression of interest (EOI) to charter up to 12 liquefied natural gas (LNG) tankers from 2025, its first foray into the superchilled fuel, industry sources said on Monday. No further details were immediately available and Saudi Aramco declined to comment. According to Bahri's website https://www.bahri.sa/default.aspx, the national shipping carrier of Saudi Arabia has six business units dealing in oil, chemicals, logistics, dry bulk, ship management and data and owns 90 vessels, including 43 very large crude carriers (VLCCs) and 36 chemical/product tankers.
- Reuters
Nippon Steel may cut more blast furnaces to reduce costs
Japan's top steelmaker Nippon Steel Corp may close more blast furnaces as part of plans to reduce domestic facilities to cut costs, said a senior executive, as falling demand and lower Asian steel prices eat into its annual profit forecast. The world's third-biggest steelmaker has 15 blast furnaces across Japan with two due to be shut by around March 2024. Any further closures would reduce capacity and could undermine its presence in the growing, but highly-competitive Asian markets.
