|Day's Range||2.5230 - 2.5280|
The EIA forecasts the U.S to be a net exporter of total gasoline during the summer for the first time since 1960 Insights from the Kinder Morgan & Schlumberger earnings calls Permian basin producers are effectively giving away their natural gas ...
Fundamentals aside, today’s price action is likely to be driven by short-covering due to the increased volatility in the crude oil market. Oversold conditions are also a catalyst behind the early strength.
You have to have a scintilla of sympathy for the shale gas industry. It cannot be easy winning round a sceptical populace when you routinely have to drop the phrase “Richter scale” into public statements. The industry is being throttled by regulations which ministers celebrate as the “toughest in the world”, even as insiders admit that the reasons for not easing the rules are more political than scientific.
Up to 20 per cent of the gas that serves 130 university buildings at Keele will be made up of hydrogen, one of the greener alternatives to the natural gas that is currently used to heat more than 80 per cent of homes in the UK. The trial, on Keele’s private network of gas pipes, is the first modern, practical experiment in the UK involving a blend of hydrogen and natural gas and will not involve any changes to appliances.
Investing.com - Oil prices surged on Tuesday, hitting near six-month highs, after media reports that the U.S. would announce an end to sanction waivers on Iranian oil.
that have allowed major oil importing nations to buy from Iran, in a move that raises questions about the ability of other oil producers to fill the gap. As a result Brent crude, the international oil price benchmark, has risen above $74 a barrel for the first time in six months. Can the US really reduce Iran’s oil exports to zero?
It’s another quiet day for the markets, leaving the Kiwi and Aussie Dollar on the back foot. Expectations are for more policy easing…
Natural gas begins the week at its lowest price level in almost three years. The catalysts behind last week’s steep break is increased shale output, coupled with mild spring weather. However, most of all the rapidly shrinking storage deficit is quickly alleviating fears over a potential supply crunch next winter.
Santos Ltd. just posted a first quarter production record, thanks in part to a major oil acquisition in Australia’s North Western Shelf
Based on last week’s price action and the close at .7151, the direction of the AUD/USD on Monday is likely to be determined by trader reaction to the main Fibonacci level at .7153 and the intermediate 50% level at .7150.
Since the main trend is up and based on the close at 111.936, the direction of the USD/JPY on Monday is likely to be determined by trader reaction to the nearest uptrending Gann angle at 111.718.
Crude oil markets continue to go back and forth as this week was no different than the previous week. The resistance just above is causing some issues for the WTI market, while the Brent market seems to be spinning its wheels and waiting for its cousin to come along.
Natural gas markets fell hard during the week, cracking through the $2.50 level on Thursday which was the last trading day of the week. Now that we are in this extreme area, this chart looks very sick.
The British pound fell during the week, reaching down towards the ¥145 level. At this point, the market is trying to find a bit of a springboard underneath, but we may have a little further to go.
The Euro fell during the week, reaching down towards the 1.12 level yet again. Now having said that it’s likely that we have a big fight on our hands just below current trading.
The Haynesville Shale in northeastern Texas and Louisiana is producing 10.522 billion cubic feet per day of natural gas this month, effectively breaking its 2011 production record
Climate activists blocked thousands of employees from entering the headquarters of French bank Societe Generale, state-run utility EDF and oil giant Total on Friday, environmental group Greenpeace said. Greenpeace said it was protesting against company links to the oil and gas industry, which it calls a driving force in global warming.
Based on Friday’s limited price action, trader reaction to the short-term Fibonacci level at 1.1238 is likely to determine the near-term direction of the EUR/USD. Essentially, the EUR/USD could strengthen over 1.1254 and weaken under 1.1238. However, the extremely light volume will lead to limited gains and limited losses. Furthermore, buying strength and selling weakness is not advised today.
Overall, gold futures are fairly priced, given the strengthening U.S. Dollar, steady Treasury yields and a stock market that sits about 1 percent below its all-time highs.
With prices headed toward the psychological $2.50 level, the major concern for short-sellers is not the bearish fundamentals, but the technically oversold conditions. The current mild shoulder season has pushed bullish traders to the sidelines as they await the summer cooling season. This being said, if $2.50 is taken out with conviction then $2.00 becomes the next target.
Natural gas prices have seen some volatility over the past few months, bouncing between highs near $3.00 per million British thermal units (MMBtu) and lows just above $2.50. The commodity currently trades at roughly $2.