|Day's Range||3.496 - 3.915|
On November 15, natural gas’s implied volatility was 86.8%, which was ~73.6% above its 15-day moving average. In the trailing week, natural gas’s implied volatility rose 83.1%. Natural gas December futures rose 14% during the same period. Since June, these two metrics have been moving in tandem.
Asian spot prices for liquefied natural gas (LNG) fell this week despite several Japanese buyers in the market, as sellers held onto cargoes hoping for higher bids and used tankers as storage, which also reduced ship availability for other deals. Spot prices for January delivery in North Asia (LNG-AS) were heard at $10.90 per million British thermal units (mmBtu), 30 cents lower than last week. For late December, spot prices were heard at $10.40 per mmBtu, although they were under the $10 mark for early December delivery weeks.
Malaysia's gas exports have been severely impacted since the second quarter of the year due to a supply disruption at a gas field in the eastern state of Sabah, the finance minister said on Friday. "Major repairs and assessment works are still ongoing and production is only expected to return to full capacity by the middle of next year (at) the latest," Finance Minister Lim Guan Eng said in a statement. The supply disruption has affected the country's economic growth and petroleum income tax revenue received by the government, he said.
The gold prices have slightly rallied higher during the Thursday’s session as the $1200 level underneath offering strong support to the market. If the market breaks down below the recent lows, then the market could drop down to the $12 level. The crude oil prices bounced slightly higher during yesterday’s session, as it experienced strong support at the $55 level.
The next move by crude oil will be headline and momentum driven. If the headlines are bullish then buyers will make a run at the major 50% level at $58.95. If the headlines are bearish then sellers will attempt to resume the downtrend by taking out $54.90.
Based on the price action the last six weeks, the direction of the AUD/USD on Friday is likely to be determined by trader reaction to the main retracement levels at .7252 to .7307.
PORT MORESBY/MELBOURNE, Nov 16 (Reuters) - A long-awaited project led by France's Total SA that will help double liquefied natural gas (LNG) exports from Papua New Guinea has come another step closer, with the government agreeing to set financial terms early next year. The LNG expansion, which analysts estimate will cost $13 billion, is crucial to the Pacific island nation's economy as LNG is its biggest export earner, while demand for the fuel is surging in international energy markets. Prime Minister Peter O'Neill said in the country's capital of Port Moresby on Friday that "physical terms" had been agreed.
Nov 16 (Reuters) - Zhongman Petroleum and Natural Gas Group Corp Ltd: * SAYS IT SIGNED AGREEMENT WITH PETRONAS CARIGALI IRAQ HOLDING B.V. ON PROJECT WORTH ABOUT $99 MILLION Source text in Chinese: https://bit.ly/2K6XVyR ...
With economic data on the lighter side, we can expect geo-politics to continue to take center stage, the Pound in desperate need of good news.
Abu Dhabi’s national oil company is undergoing a dramatic transformation as natural gas and downstream operations become a priority
Now about 15 to 20 LNG tankers holding at least 2 million cubic metres of LNG worth more than $400 million at spot market prices are floating in Asian waters, industry sources said. Globally, the number of such LNG tankers stands at 20 to 30, one of the sources said. This has helped to drive up LNG tanker rates to record highs, the ship broking and trading sources said.
Natural gas prices tumbled back to earn after rocketing higher on Wednesday. This comes following an inventory report from the Department of Energy which was in line with expectations. Rumors that hedge funds unwound a position that was long oil and short natural gas buoyed natural gas prices on short-covering but this now seems to be over. Despite the drop off, natural gas inventories are below the low end of the 5-year range, as working gas underground ended the refill season at the lowest levels since October of 2005.
On November 7–14, our list of natural gas–weighted stocks fell 3.7% despite a rise of 36.1% in natural gas December futures. On average, natural gas–weighted stocks underperformed natural gas futures during this period.
Canada’s crude crisis is accelerating, with export pipelines simply not able to keep up with either supply or demand, prompting panic from the country’s major producers
The natural gas–weighted stocks under review, that might be inversely related to US crude oil December futures’ movements based on their correlations with US crude oil December futures in the last five trading sessions, are: Cabot Oil & Gas (COG) at -89.7% Gulfport Energy (GPOR) at -66.7% Southwestern Energy (SWN) at -36.7%
On November 7–14, our list of oil-weighted stocks fell 11.2%—compared to the 8.8% fall in US crude oil December futures. On average, our list of oil-weighted stocks underperformed US crude oil prices. In the previous part, we saw that most of these oil-weighted stocks’ correlations with oil prices rose significantly.
On November 14, natural gas December futures rose 17.9% settled at $4.837 per MMBtu (million British thermal units)—the highest closing level for active natural gas futures since February 26, 2014. The colder winter forecast and natural gas inventories at a double-digit deficit in percentage terms compared to the five-year average are behind the rise in natural gas prices. Natural gas–weighted stocks
On November 14, US crude oil December futures rose 1% and closed at $56.25 per barrel. News of OPEC’s rescue plan might have helped US crude oil prices end the three-day losing streak.
Cold weather blanketing much of the United States this week boosted spot natural gas prices for Thursday to their highest since January in several regions, while natural gas futures slid 10 percent as investors took profits after a rally that had lifted them to their highest levels in nearly four years. Next-day prices for Thursday, meanwhile, rose to their highest since January at the Henry Hub (NG-W-HH-SNL) benchmark in Louisiana, Dominion South (NG-PCN-APP-SNL) in Pennsylvania and Chicago citygate (NG-CG-CH-SNL). Next-day gas at the Henry Hub rose to $4.57/mmBtu, their highest since January for a fifth day in a row, due to cold weather nationally and as demand at nearby liquefied natural gas (LNG) export terminals rose to new highs with the start of new liquefaction trains.
There was something for everyone in the International Energy Agency's (IEA's) latest world energy outlook, but supporters of coal, renewables, and oil and gas are all likely to take away the wrong messages. The comprehensive report, released on Nov. 13, outlined an energy future where natural gas overtakes coal by 2030 to become the world's second-largest energy source. There was positive news for renewables as well, with the agency forecasting that the sector would overtake coal in power generation by 2040 with a share of just over 40 percent.
* Teekay LNG says four Arctic ARC7 class liquefied natural gas tankers will be delivered three to five months earlier than scheduled next year for the northern Russian Yamal project * Two tankers, Georgiy ...
We get it. Supply is high and demand is starting to weaken, but these factors may have been fully-priced into the market on Tuesday when the markets spiked to the downside. We’re going to start watching the price action closely because of the slight change in the pattern. We are far from turning the trend to up, however, the markets may be ripe for a short-term, short-covering rally.
SEOUL, Nov 15 (Reuters) - South Korea's imports of liquefied natural gas rose 37.9 percent to 3.8 million tonnes in October from a year earlier, according to customs data released on Thursday. Details ...
Oil rose about 1 percent on Wednesday, recouping some of the previous session's heavy sell-off, on growing prospects that the Organization of the Petroleum Exporting Countries and allied producers would cut output at a meeting next month to prop up prices. After a record 12 straight days of losses and the steepest one-day loss in more than three years, the oil market reversed course after Reuters reported that OPEC and its partners were discussing a proposal to cut output by up to 1.4 million barrels per day (bpd), more than officials had mentioned previously. Prices pared gains in post-settlement trade as the American Petroleum Institute said crude inventories rose by 8.8 million barrels in the week to Nov. 9 to 440.7 million, compared with analysts' expectations for an increase of 3.2 million barrels.