|Day's Range||2.73 - 2.73|
Natural gas prices moved lower on Thursday as the EIA reported a smaller than expected draw in inventories. Warmer than normal weather is also forecast to cover most of the U.S. weighing on natural gas prices. Support is seen near the November lows at 2.84. Prices are breaking down as momentum turned negative. The … Continue reading Natural Gas Price Analysis for November 24, 2017
Natural gas futures plunged to a three-week low on Wednesday after the release of a U.S. Energy Information Administration storage report. January Natural Gas futures settled at $3.059, down $0.051 or -1.64%. According to the EIA, domestic supplies of natural gas fell by 46 billion cubic feet for the week-ended November 17. The report was … Continue reading Natural Gas Price Fundamental Daily Forecast – Getting Weaker; New Resistance $3.111 to $3.151
TeleX AI’s initial coin offering got underway on 21st November and investors can benefit from the lack of fees on transactions during the initial coin offering period. Following the token sale, each trade will have a fee payable in TeleX AI tokens, which will ultimately be TeleX AI’s main revenue stream. For those looking to invest … Continue reading TelexAI Launches a Crypto Trading Chatbot on Telegram
The U.S Dollar weakened across the globe on Wednesday, and major currencies like the Euro, Pound, and Yen have gained. Because of the Thanksgiving holiday in the States today trading volumes will become quite thin. Gold has gained and has important resistance in sight. EUR/USD: Euro Marches to Better Values The Euro has gained and … Continue reading Daily Market Forecast, November 23, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD
In a muted pre-holiday trade on Wednesday, U.S. equity markets finished mixed and U.S. Treasury yields fell, taking down the U.S. Dollar. Gold prices soared and crude oil prices rose sharply. The day was filled with U.S. economic reports early in the session, culminating with the Fed meeting minutes near the end of the day. … Continue reading Fed Fears Financial Markets May Be Overvalued, Ripe for Reversal
The natural gas markets went sideways initially on Wednesday, but then broke down below the $3 level. We dropped to the $2.95 level, before bouncing, and it now looks as if we are starting to see resistance near the $3.00 level again and the 24-hour exponential moving average. Overall, this is a market that is … Continue reading Natural Gas Price Forecast November 23, 2017, Technical Analysis
China and India, the two countries with the largest populations on earth, will continue to drive global energy demand over the next two decades
Investing.com – Gold prices rose on Wednesday after a slump in Treasury yields pressured the dollar ahead of the release of the Federal Reserve November meeting minutes.
Oil prices climb Wednesday as a weekly decline in U.S. crude supplies backs expectations that OPEC will decide to extend its output-cut deal when it meets with other major producers next week.
Investing.com - Oil prices held on to most of their gains on Wednesday, with the U.S. benchmark staying close to its best level since July 2015 after data showed U.S. crude stockpiles dropped last week.
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Investing.com - Natural gas futures extended losses into a third session to hit its lowest level in around three weeks on Wednesday, as investors looked ahead to weekly data from the U.S. on supplies in storage to gauge demand for the fuel.
WARSAW, Poland (AP) — Poland's state-owned gas company says it has signed a five-year deal to buy liquefied natural gas from the U.S. as Europe seeks to cut its dependence on imports from Russia.
LONDON (Reuters) - The Gujarat State Petroleum Corp launched a tender on Wednesday to buy a liquefied natural gas (LNG) cargo for delivery in the second half of December, trade sources said. Bids must ...
Indian Oil Corp is considering buying Venezuelan crude for the first time in at least six years, in a move that could help the crisis-struck South American nation settle unpaid bills with another state-owned Indian energy firm. Venezuela depends on oil for more than 90 percent of its export revenues. Venezuela's national oil company PDVSA has missed debt payments to ONGC Videsh, the foreign investment arm of Indian explorer Oil and Natural Gas Corp, for six month and wants to settle $449 million dues using existing and new Indian clients.
Natural gas markets continue to be very choppy, as we drifted a bit lower initially during the trading session on Tuesday, but found support just above the $3.01 level, and rallied towards the $3.06 level. We pull back from there as well, and I think what we are going to see over the next 24 … Continue reading Natural Gas Price Forecast November 22, 2017, Technical Analysis
Sponsor TransCanada (TRP) won approval to build its controversial Keystone XL Pipeline through Nebraska, while BP (BP) became the first European oil major to resume share repurchase since 2014.
Poland's dominant gas firm PGNiG has signed its first mid-term deal for liquefied natural gas (LNG) deliveries from the United States, as part of a wider plan to cut its reliance on Russian supplies, it said on Tuesday. State-run PGNiG said that as part of the deal, signed with Centrica LNG Co. Ltd, it will receive nine LNG shipments in 2018-2022. The shipments will come from the Sabine Pass LNG export terminal in Louisiana in the United States and be delivered to Poland's LNG terminal at Swinoujscie on the Baltic Sea, which opened for commercial operations last year.
Top officials of major gas producing countries are meeting this week in Bolivia to weigh how to shore up prices that have been hammered by expanding supplies of the fuel that are giving global buyers greater sway over purchase and contract terms. The Gas Exporting Countries Forum (GECF), which aspires to be the OPEC for natural gas suppliers, kicked off the event on Tuesday with calls for cooperation.
For the week ending November 17, ConocoPhillips (COP) stock had shown the highest correlation of ~91% with natural gas (UNG).
Investing.com - Crude oil prices remained moderately higher in quiet trade on Tuesday, as investors eyed the release of upcoming U.S. inventory reports after news last week of an increase in production dampened optimism over the rebalancing of the market.
There's oil and then there's oil, says Norway's Statoil, which is pitched in a race to develop the cleanest crude as countries wean themselves off fossil fuels. While the world will need oil and gas for decades to come, Statoil's Chief Executive Eldar Saetre expects that many oil deposits will never be tapped as increasingly discerning consumers will demand only the lowest-polluting crude. "A lot of fossil fuels will have to stay in the ground, coal obviously ... but you will also see oil and gas being left in the ground, that is natural," Saetre told Reuters in an interview in London.
The Gas Exporting Countries Forum (GECF) sees no glut of natural gas in the global market and said competition is needed, the head of the organization that gathers the world's largest producers said on Tuesday during a meeting in Bolivia. The gathering of top natural gas exporters including Qatar, Iran, Russia and Venezuela is expected to discuss pricing methodologies during its meeting this week, which will also include a ministerial conference and a meeting of gas producing company chief executives. The world's consumption of natural gas grew about 1.5 percent in 2016 to reach some 3.54 trillion cubic meters (TCM) driven by unconventional gas production, according to BP's statistical review.
India is planning to join the Asian rush to boost the use of natural gas over coal, a further sign that the liquefied natural gas (LNG) market will tighten faster than previously expected. India's state oil refiners Indian Oil, Bharat Petroleum and Hindustan Petroleum aim to raise the contribution of natural gas to between 5 percent and 15 percent of their incomes over the coming years, up from virtually zero currently. This is part of the government's target to boost the natural gas portion of India's primary energy mix to 15 percent by 2030, up from 6.5 percent now.