|Day's Range||2.934 - 2.936|
According to the EIA, Libya’s oil production decreased by 15,000 bpd (barrels per day) to 975,000 bpd in March 2018—compared to the previous month. However, production increased by 385,000 bpd or 65% from a year ago. Libya’s oil production has almost tripled in the last two years.
Natural gas prices moved higher on Wednesday but could not pierce through resistance near a downward sloping trend line that comes in near 2.785. Short-term support is seen near the 10-day moving average at 2.736. Traders await Thursday’s inventory report from the Department of Energy. Temperatures in the heavy natural gas-consuming areas of the Midwest and East regions posted significantly colder-than-normal temperatures.
On April 17–24, the correlation between natural gas and US crude oil June futures was -14.1%. During this period, US crude oil and natural gas prices moved in the same direction in three instances in the last five trading sessions based on the closing prices.
In 2008, the natural gas rig count made a record high of 1,606. From the record level in 2008 until April 20, the natural gas rig count fell 88%. Between January 2008 and January 2018, US natural gas marketed production rose 45.5%, based on the EIA’s monthly data. Natural gas supplies
Previously in this series, we discussed that most of the crude tanker stocks rose in the week 16—the week ending April 20. VLCC (very large crude carrier) rates rose but are still below $10,000. Suezmax rates also rose in week 16. In this part of the series, we’ll see how bunker fuel prices fared in week 16.
On April 24, natural gas June 2018 futures rose 1.4% and settled at $2.81 per MMBtu (million British thermal units). On April 17–24, natural gas June futures rose 1.6%.
SINGAPORE (Reuters) - Bharat Petroleum Corp Ltd has issued a tender seeking four liquefied natural gas (LNG) cargoes for July 2018 to March 2019 delivery, two industry sources said on Wednesday. The cargoes ...
The gold prices managed to rally a bit during the yesterday’s session as $1320 level offered a bit of support. The silver prices initially drifted lower during the yesterday’s session but got a bit of support around the $16.55 level to change its course. The crude oil prices tried to move above the $69.50 level during the yesterday’s session but failed to get above and went lower reaching towards the $68.50 level.
Investing.com - Crude prices extended gains in midmorning trade on Tuesday, surpassing key psychological levels, as investors turned their attention toward U.S. weekly supply data.
Based on the early price action, the direction of the index today is likely to be determined by trader reaction to the 50% level at 2679.50.
Investing.com - Crude prices continued higher on Tuesday, as investors looked ahead to fresh data on U.S. commercial crude inventories to gauge the strength of demand in the world’s largest oil consumer and how fast output levels will continue to rise.
Over the last decade or so, white-collar workers have flocked to cities, driving up rents and triggering shortages of affordable housing. Now, advocates and policymakers are in a pitched battle over what to do. That conflict came to a head in Sacramento last week, as California legislators killed a bill that would have allowed developers…
We’re looking for volatility to return this week in an even bigger way than last week with the expiration of the May futures contract on April 26. With so much emphasis on the cash market because of the current unusual weather pattern, we expecting the May contract to come off the board with a bang rather than a whimper.
Gold futures are rebounding early Tuesday, mostly due to oversold technical conditions. The move we are seeing is likely a combination of profit-taking, short-covering and aggressive counter-trend buying. However, gains are likely being limited by a stronger U.S. Dollar and rising Treasury yields.
U.S. energy major Exxon Mobil has offered a liquefied natural gas (LNG) cargo from its recently restarted Papua New Guinea plant for delivery into the Japan, Korea, Taiwan (JKT) region in May, two traders with knowledge of the matter said. Exxon Mobil has offered the cargo on a delivered ex-ship (DES) basis, they said on Tuesday, asking not to be identified. The PNG LNG plant was recently restarted after a major earthquake triggered a shutdown in February.
The U.S Dollar has remained a huge talking point as it builds momentum in forex as bond yields increase in the States.
The gold prices gapped lower during the Monday’s session and continued to fall towards the $1320 level. The market is expected to trade with a downward pressure in next several session as the USD has been gaining strength which will work against the dollar. The silver fell over 1 percent during the Monday’s session slicing through the $17 level reaching $16.80 level.
The U.S Dollar has remained robust as it has gained against nearly every major currency. Gold has faltered and is above an important support level, which traders may attempt to challenge. U.S Crude Oil is approaching values not seen since late in 2014.
Shell and Inpex are on the final stretch of a years-long race to export gas from offshore northern Australia, where both have spent billions of dollars building the world's biggest maritime vessels to grab a slice of Asia's booming LNG market. Anglo-Dutch energy major Royal Dutch Shell (RDSa.L) and Inpex, Japan's biggest oil and gas producer, are vying for first gas from two overlapping fields after delays and cost overruns that have plagued both projects. The pair have spent billions on offshore facilities, including Shell's 490 metre (1,600 ft) long Prelude floating liquefied natural gas unit and Inpex's Ichthys Explorer semi-submersible platform, both the world's largest of their class.
Alt coins rally during the trading session on Monday, as Bitcoin and Ethereum stabilized. That being the case, looks as if fresh, hot, new money is coming into the alt coins space in general.
Natural gas markets went sideways initially during the trading session on Monday, but then started to roll over as the Americans came on board. We reached towards the $2.70 level, and I think we will probably go lower than that.
Fear of accelerating inflation, rising commodity prices and worries about the growing supply of government debt helped drive the 10-year yield to 2.998 on Monday.
Based on last week’s close at .7669, and the price action the previous three weeks, the direction of the AUD/USD this week is likely to be determined by trader reaction to the short-term Fibonacci level at .7743.