|Day's Range||2.661 - 2.662|
Aug 16 (Reuters) - Shanghai Sk Petroleum & Chemical Equipment: * SAYS ZHONGMAN PETROLEUM AND NATURAL GAS, PARTIES ACTING IN CONCERT HAVE BOUGHT 5.0 PERCENT STAKE IN THE COMPANY BETWEEN FEB 27 AND AUG 16 ...
Japanese utilities and industrial companies are snapping up U.S. cargoes of liquefied petroleum gas (LPG) that are seeking a new home after Chinese buyers started to shun them amid an escalating trade war between Washington and Beijing. Taking in fuel that would otherwise be heading for China means Japanese imports of U.S. LPG are set to stay strong after already hitting record levels earlier this year. Robust Japanese purchases of LPG, often used as fuel for transport or cooking, underscore how the impact from the festering trade dispute between Washington and China is rippling across supply chains around the world.
Natural gas markets continue to bounce around overall, losing just slightly during the day on Wednesday as we continue to see a lot of volatility in this space. However, we are getting close to the top of the consolidation area so it makes sense that the market starts to rollover.
SEOUL, Aug 16 (Reuters) - South Korea's imports of liquefied natural gas rose 1.5 percent to 2.75 million tonnes in July from a year earlier, according to customs data released on Wednesday. Details of ...
Natural gas prices broke out on Tuesday but were unable to hold trend line support which was former resistance. Still prices consolidated and only fell 0.68% The weather is expected to be normal with warmer than normal weather cover most of the east and west coasts, while cooler weather is hovering most of the mid-west. Trader’s now await Thursday inventory report from the Department of Energy. Stockpiles are expected to rise by 33 Bcf according to Estimize.Technical Analysis
Gold prices tumbled again on Wednesday breaking down and headed toward target support near the December 2016 lows at 1,120. Resistance is seen near former support now resistance near 1,204. Stronger than expected retail sales helped buoy the dollar paving the way for lower gold prices. The dollar has been the beneficiary of the geopolitical unrest which first hammered the Turkish Lira but has spread to decline in the Indian Rupee and the Chinese Yuan. Momentum is negative as the MACD (moving average convergence divergence) index generated a crossover sell signal. ...
Based on the current price, the direction of the EUR/USD into the close is likely to be determined by trader reaction to yesterday’s close at 1.1343. The main trend is down according to the daily swing chart. However, today’s session began with the EUR/USD in the window of time for a closing price reversal bottom.
Natural gas is one of the most important inputs required for nitrogen fertilizers. Companies such as CF Industries (CF) that are located in the United States are at a unique advantage with access to low natural gas prices. In its quarterly earnings, CF Industries cited low natural gas as a key driver for improvement in margins.
Tough new rules on marine fuel are forcing shipowners to explore liquefied natural gas as a cleaner alternative and ports such as Gibraltar are preparing to offer upgraded refuelling facilities in the shipping industry's biggest shake-up in decades. From 2020, International Maritime Organization rules will ban ships from using fuels with a sulphur content above 0.5 percent, compared with 3.5 percent now, unless they are equipped to clean up sulphur emissions. Using LNG to power ships instead of heavy fuel oil or the lighter marine gasoil can reduce polluting emissions of nitrogen oxides and sulphur oxides by 90 to 95 percent, according to industry estimates.
On August 14, natural gas September futures rose 1% and settled at $2.959 per MMBtu (million British thermal units)—the highest closing level for active natural gas futures since June 27.
Cheap natural gas, sluggish power demand, growing renewable energy, and emissions regulations will all continue to crowd out coal as U.S. utilities use more natural gas and renewables for electricity generation through 2025. This year, we have seen more U.S. utilities incorporate renewables and natural gas-fired generation into their long-term resource planning as coal fleets dwindle. The economics of offshore wind energy continue to improve, and two major projects, one off the coast of Massachusetts and another off Rhode Island, were recently selected by state officials to move forward.
USDCAD turns range bound as both pairs are driven by news based momentum with both side of pair lacking a news strong enough to gain upper hand.
This bullish tone is not likely to go away until injections start to meet or exceed the five-year average, which means it could last all month since there are only two more August reports left after Thursday.
Investing.com - Gold prices fell below the $1,200 mark on Wednesday as the demand for U.S. dollar went up amidst the Turkish lira contagion crisis.
Investing.com - Oil prices fell on Wednesday after data from the American Petroleum Institute (API) showed increased U.S. crude inventories in the week to Aug 10.
If the selling pressure gains momentum then look for a test of the December 23, 2016 main bottom at .7159, the May 24, 2016 main bottom at .7145 or the February 29, 2016 main bottom at .7107. On the upside, the first level to watch is yesterday’s close at .7239. Recapturing this level and turning higher for the session will put the AUD/USD in a position to post a closing price reversal bottom.
NEO is on the move early, with a hold on to $16 levels needed to break back through to $17 levels and leave Tuesday’s sub-$14 low in the past.
Natural gas markets broke resistance again during trading on Tuesday, breaking above the $2.97 level. This is another strong sign, but at this point we still haven’t reached the major resistance barrier. That lies above.
The US dollar initially rallied against the Japanese yen during the trading session on Tuesday, but then pulled back towards the open area, as the market has continued to be very noisy overall. I believe that this market will probably continue to see a lot of volatility due to the global risk out there.
Sundance Energy Australia Limited’s (ASX:SEA): Sundance Energy Australia Limited engages in the exploration, development, and production of oil and natural gas in the United States. The US$521.94m market-cap posted aRead More...
Idaho officials violated the U.S. Constitution by forcing several landowners to sell their natural gas and oil to a Texas company without giving them a meaningful way to fight the state's decision, a judge said. The ruling Monday in U.S. District Court in Boise could have significant ramifications for a state-approved process intended to prevent a minority of mineral rights owners from stopping natural gas and oil production. Citizens Allied for Integrity and Accountability sued last year, contending the state discriminated against landowners with an order finalizing a deal that favors Houston-based Alta Mesa.
Oil prices started the day trading up on news that Saudi Arabia had reduced its production in July, but economic uncertainty driven by Turkey’s currency crisis dragged prices down later in the day
Natural gas prices broke out, but the surge was subdued as prices slid higher above trend line resistance. The weather is expected to be normal with warmer than normal weather cover most of the east and west coasts, while cooler weather is hovering most of the mid-west. The EIA forecast that natural gas production rose in July, offsetting the demand from warmer than normal temperatures.Technical Analysis