|Day's Range||2.778 - 2.778|
Commodity trader Trafigura and Eni Trading and Shipping traded the first liquefied natural gas (LNG) futures contract representing delivered prices to Dubai, Kuwait and India, Singapore Exchange (SGX) said on Wednesday. A total of 100,000 million British thermal units, a fraction of a standard-size cargo, of February 2018 futures was cleared by SGX at a price of $9.85 per mmBtu on Dec. 8, the exchange said in a statement. Tullett Prebon brokered the trade, the first of its kind to represent delivered prices to the Middle East and India.
Natural gas markets were explosive to the downside during the trading session on Tuesday, slicing below the $2.75 level. This is an area that has been massively supportive in the past, so I suspect that we are going to go looking towards the $2.50 level underneath.
Investing.com – Gold prices remained at five-month lows amid dollar strength which followed upbeat economic data pointing to an improving inflationary environment, while a widely expected Federal Reserve interest rate hike continued to weigh on the precious metal.
Natural gas prices tumbled through support levels breaking down and likely to see an acceleration toward support levels near a long term horizonal trend line near 2.52. Warmer than normal weather is forecast to cover most of the United States for the next 8-14 days according to the National Oceanic Atmospheric Administration. Warmer than normal weather will reduce heating demand and allow natural gas inventories to remain buoyed. Current inventory levels are hovering near the 5-year average.
U.S. dry natural gas production was forecast to rise to 73.55 billion cubic feet per day (bcfd) in 2017 from 72.85 bcfd in 2016, according to the Energy Information Administration's (EIA) Short Term Energy Outlook (STEO) on Tuesday. The EIA also projected U.S. gas consumption would fall nearly 2 percent to 73.71 bcfd in 2017 from a record 75.10 bcfd in 2016. In electric generation, the EIA projected gas will remain the primary U.S. power plant fuel in 2017 and 2018 after taking that title from coal for the first time ever in 2016.
Investing.com - Natural gas futures were a bit higher on Tuesday, but stayed near their lowest level in almost nine months, as market players continued to monitor winter weather forecasts to gauge demand for the fuel.
On December 1–8, 2017, the United States Oil Fund (USO), which holds crude US oil futures contracts, fell 1.5%. US crude oil January 2018 futures fell 1.7%.
The price action suggests traders are waiting for an updated weather forecast for the next two weeks or perhaps into January. This should determine the next move in the market.
The North Sea Forties crude oil pipeline has now been safely shut down and its operator Ineos will conduct further inspection of the hairline crack that prompted the shutdown, a spokesman for the company said on Tuesday. The pipeline, which carries around 450,000 barrels per day of Forties crude oil and natural gas to Britain, underwent a partial shutdown on Dec. 7 after a minor leak.
In general, the “other 3” crypto currencies that we follow have performed reasonably well during Monday trading, and it looks as if the buyers are returning to pick up crypto currencies in general as most headlines have been focused on Bitcoin trading on Chicago futures exchanges.
The German index gapped higher at the open on Friday, went much higher, and then pulled back to fill that gap again on Monday.
The main trend is down according to the daily swing chart. However, prices remained supported by a series of main bottoms ranging from $2.9455 to $2.8990. A trade through last week’s low at 2.9430 will signal a resumption of the downtrend, but any selling is likely to be labored until $2.8990 is taken out.
More than a dozen oil companies failed to meet North Dakota's natural gas flaring goals three months ago. Operators burned off over 300 million cubic feet (8.5 million cubic meters) of natural gas per ...
Britain's largest oil pipeline could shut down for weeks for unscheduled repair work, sending the price of crude to new two-year highs and triggering a steep rally in natural gas prices, just as a cold snap sweeps the country. The Forties Pipeline System, which carries around 450,000 barrels per day of Forties crude from the North Sea to the Kinneil processing terminal in Scotland, had been operating at reduced capacity since December 7 when a routine inspection revealed a small leak. Ineos, a privately owned Anglo-Swiss chemicals company, owns the pipeline and said it had taken the decision to close the system completely.
According to the EIA (U.S Energy Information Administration), natural gas prices were broadly mixed from November 29 to December 6, 2017.
Investing.com - Natural gas futures edged higher to start the week on Monday, but prices held close to their lowest level in nine months as market players continued to monitor winter weather forecasts to gauge demand for the fuel.