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Why Natural Gas Has Fallen 10% on January 22Natural gas has fallenOn January 22, natural gas February futures fell to an intraday low of $3.13 per MMBtu (million British thermal units), which is ~10% below the last closing level. On January 22,
Saudi Aramco, the world's top oil producer, is looking to acquire natural gas assets in the United States and is willing to spend "billions of dollars" there as it aims to become a global gas player, the company's CEO said on Tuesday. Amin Nasser told Reuters in an interview that his company wants to increase its U.S. investments.
Britain could safely raise the limit for tremors at gas fracking sites to three times their current level, two seismologists said on Tuesday. Fracking at Cuadrillas Preston New Road site in Lancashire, northwest England was halted several times last year after seismic activity exceeded limits put in place under Britain's traffic light regulation system. Under the system work at fracking sites must be halted for 18 hours if seismic activity of magnitude 0.5 or above is detected.
Lower demand is the theme on Tuesday and its negative tone should continue to put pressure on prices. Traders are using the news as an excuse to book profits after a nearly month-long rally. Based on the price action the last two weeks, it seems the only way to stop the selling will be additional positive comments about U.S.-China trade negotiations.
Germany will protect its manufacturing industry from the impact of abandoning cheap coal-fired power, which Berlin is looking to ditch for environmental reasons, its economy minister said. German companies want some protection from the rise they fear they will see in electricity prices when coal-fired and nuclear power plants are taken off grid in coming years, warning that they could see increased costs totalling billions of euros. "We will take clear and responsible steps to compensate energy-intensive companies," German Economy Minister Peter Altmaier told an energy industry conference on Tuesday as a government-appointed "coal commission" gets close to publishing a timeline for phasing out the fossil fuel.
When it comes to commodities, despite the trade war, China is the country you must focus on. Meanwhile, the Chinese are (finally) serious about curbing the rampant pollution in their country, observes Tony Daltorio, editor of Growth Stock Confidential.
Gold prices have pulled back significantly during the Monday’s session, breaking below the supportive $1280 level. It is expected that the market will continue to witness volatility until it breaks above the $1300 level. Pullbacks of this sort will continue to be a nice buying opportunity with strong support at $1250 level. …Read MoreSilver
Based on last week’s close at 24687 and the upside momentum into the close, the direction of the March E-mini Dow Jones Industrial Average this week is likely to be determined by trader reaction to the main Fibonacci level at 24890.
Based on last week’s close at 2671.50, the direction of the March E-mini S&P 500 Index this week is likely to be determined by the downtrending Gann angle at 2667.50.
It’s risk off early in the day, growth forecast revisions by the IMF and central banks coming amidst softer GDP numbers.
Based on last week’s price action and the close at $3.239, the direction of the March natural gas futures contract this week is likely to be determined by trader reaction to the support cluster at $3.089 to $3.008.
UK Prime Minister Theresa May will unveil her Brexit “Plan B” to parliament later today after MPs rejected her initial “Plan A”. Her alternative plan is unlikely to differ much from the initial one and in the absence of any new information the UK may crash out of the EU on March 29
The British pound stabilized a bit during the trading session on Monday, as the 1.2850 level seems to be offering support yet again. Ultimately, I think that this market is still gyrating to the “thought of the moment” when it comes to Brexit.
The Euro rallied a bit during the trading session on Monday, and then gave up all of those gains to reach towards the 1.1350 level. This is a negative turn of events, but we are still in the “rounded bottom” that I had pointed out previously, it’s a bit early to start shorting. Beyond that, I see several points of support underneath.
The International Maritime Organization (IMO) is requiring that ships burn fuel with a sulfur content no greater than 0.5 percent beginning on January 1, 2020. At present, there are areas of major maritime traffic known as SECAs, or sulfur emission controls areas, where there already are such regulations, but IMO2020 will require low sulfur fuels globally – in an industry that frequently burns fuels with 3.0 percent or more sulfur content. The expectation is that the maritime industry will turn to low sulfur marine diesel.
LONDON (Reuters) - Commodities broker Marex Spectron has bought London-based trading firm CSC Commodities from BGC European Holdings, Marex said on Monday without disclosing how much it paid. CSC Commodities, ...
SINGAPORE (Reuters) - Gail (India) has offered three liquefied natural gas (LNG) cargoes loading from the Sabine Pass terminal in the United States in 2020, industry sources said on Monday. The Indian ...
Based on Friday’s close at $54.04, the direction of the March WTI crude oil market in Monday’s holiday shortened session will be determined by trader reaction to the former main top at $53.61.
Big oil is responding in different ways to the impending energy transition with varying levels of urgency, but a few trends in strategic change can be distilled
Natural gas prices whipsawed rebounding from session lows near support at the 10-day moving average and surging into the close on a colder than normal forecast. The weather over the next 2-weeks is expected to be much colder than normal throughout most of the mid-west according to the latest forecast from the National Oceanic atmospheric Administration. Supplies of natural gas are rising but they are offset by higher LNG exports. The cold weather will continue to add to the upside risks.Technical Analysis
After being burned by predictions of cold weather in December, investors are being cautious at this time, while waiting for confirmation of the bitter cold forecasts. As they gain confidence in the current forecasts, volume and volatility could increase substantially.
Disgruntled Papua landowners are standing up against the way the national government and Exxon Mobil are distributing the spoils of the massive Papua LNG project
Tiffany & Co. says holiday shoppers and Chinese tourists spent less on its bling. The luxury jeweler, famous for its little blue boxes, says sales slipped in the holiday shopping season as Chinese tourists spent less while traveling due to the strong dollar, making it more expensive to buy Tiffany jewelry outside of its stores in China.
Tellurian Inc's proposed Driftwood liquefied natural gas (LNG) project in Louisiana took a major step forward on Friday as the U.S. federal energy regulator issued a final environmental report clearing the way for the company to seek a permit to build the export terminal. The company said it now needs an order from the Federal Energy Regulatory Commission (FERC) allowing the construction and operation of the 27.6 million tonne per annum (mtpa) liquefaction plant aimed at meeting growing global demand for the supercooled fuel. "Tellurian will then stand ready to make a final investment decision and begin construction in the first half of 2019, with the first LNG expected in 2023,” said Tellurian Chief Executive Meg Gentle in an statement.