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US dry natural gas production rose by 3 Bcf (billion cubic feet) per day to 75.9 Bcf per day in July 2017—compared with the previous month.
US natural gas (UNG)(DGAZ) futures contracts for November delivery rose 0.67% to $3 per MMBtu (million British thermal units) on October 13.
Renewable energy sources are only as reliable as the natural world that fuels them. A cloud passing overhead cuts off solar power; the wind stops blowing and windmills stop working. In order for us to depend on undependable power sources, we need a grid-sized backup to acts of God. In 2012, president Barack Obama’s energy…
Gold The gold prices initially went in a sideways direction but then exploded higher above the $1300 level after weak CPI data from the US hit the market. The break above this level is a positive sign for the market and if it breaks below then it has enough support at $1290 level and then at … Continue reading Commodities Daily Forecast – October 16, 2017
The Pound is certain to be a focal point in forex this week, as BoE Governor Mark Carney speaks tomorrow to the British Treasury. Gold remains near important resistance and Crude Oil has had geopolitical concerns emerge as the Kurdish independence question has sparked worries about oil production. GBP/USD: Carney Address Shadowing Pound The Pound … Continue reading Daily Market Forecast, October 16, 2017 – EUR/USD, Gold, Crude Oil, USD/JPY, GBP/USD
Natural gas futures gapped lower early Monday as investors reacted to the weather, the chart pattern and new data from the U.S. Commodity Futures Trading Commission (CFTC). At 0630 GMT, December Natural Gas futures were trading $3.133, down $0.027 or -0.85%. Traders are saying there should be enough fuel available to meet winter demand even … Continue reading Natural Gas Price Fundamental Daily Forecast – Rangebound Until Cold Weather Returns
Earlier in the Day: The markets responded to the softer than forecasted inflation figures and upbeat retail sales data out of the U.S, with Asian equities on the march through the session this morning, as sentiment towards the prospects of a December rate hike by the FED eased further, following the more dovish than expected … Continue reading Asian Equities Move Forward, with Yellen Delivering Dollar Support
Investing.com - Crude oil prices settled at a two-week high on Friday, as geopolitical uncertainty in the Middle East raised the threat of supply disruptions, particularly in the wake of U.S. President Donald Trump’s refusal to certify Iran’s compliance with the nuclear deal.
After struggling early in the week, U.S. natural gas futures mounted strong recovery late in the week to finish higher. Prices were supported by forecasts for rising heating demand and colder weather this winter than in the past two years. December Natural Gas settled the week at $3.160, up $0.114 or +3.74%. Traders also said … Continue reading Natural Gas Price Fundamental Weekly Forecast – Supported by Rising Heat Demand, Cold Weather
Gold futures finished the week on a high note amid concerns over U.S. inflation. The catalyst behind the rally on Friday was a lower-than-expected U.S. consumer inflation report. The price action indicates investors are worried about inflation’s impact on the pace of U.S. interest rate hikes by the Federal Reserve. December Comex Gold settled last … Continue reading Price of Gold Fundamental Weekly Forecast – Approaching Wall of Resistance at $1312.60 to $1324.40
Natural gas prices moved higher for the second consecutive trading session, and is poised to test target resistance despite warmer than normal weather that is forecast to cover most of the United States for the next 8-14 days according to the National Oceanic Atmospheric Administration. Prices recaptured the 3 handle and are poised to test … Continue reading Natural Gas Price Prediction for October 16, 2017
Oil prices moved higher on Friday, hitting a higher of 51.74, slightly shy of resistance near 52.05. Prices were buoyed by declining active rig counts and news that President Trump was going to de-certify the current Iranian nuclear deal. While refinery operations have rebounded from their post-Hurricane Harvey lows, they have still not recovered back … Continue reading Crude Oil Price Analysis for October 16, 2017
December E-mini Dow Jones Industrial Average futures are trading higher at the mid-session. The rally is being driven by earnings and low inflation. Today’s rally produced a record high and the current price has the Dow in a position to post a record close. The main trend is up according to the daily swing chart. … Continue reading E-mini Dow Jones Industrial Average (YM) Futures Analysis – Bullish Tone, but Still Vulnerable to Closing Price Reversal Top
By Nia Williams CALGARY, Alberta (Reuters) - Western Canadian natural gas prices have been stuck at historically weak levels since summer due to prolonged pipeline maintenance, which will hurt producers' quarterly profits and royalties paid to the cash-strapped province of Alberta. In the Alberta market, known as AECO, spot natural gas prices for immediate delivery have turned negative eight times in the last three months, most recently on Oct. 9, meaning producers got nothing for gas sold on those days. Throughout the third quarter of 2017 AECO spot prices fluctuated wildly, averaging around C$1.36 a gigajoule, down from C$2.05 a gigajoule or roughly a third on the whole of 2016, also a weak year.
During the week ended October 6, 2017, the spot price for PRB coal closed at $11.75 per short ton, up 1.7% from the previous week’s price of $11.55 per short ton.
Investing.com - Crude oil prices rallied on Friday, supported by news in the previous session of a third weekly decline in U.S. crude stockpiles and amid global signs the market is tightening.
Bitcoin prices continue to fly higher over the last 24 hours. We had warned that the bitcoin prices are likely to break through the all time highs soon and it was only a matter of time before it does so. We had also said that once the bitcoin prices broke through the $5000 region, it … Continue reading Bitcoin and Ethereum Price Forecast – Bitcoin Prices Shoot Through All Time Highs
Natural gas futures rose on Thursday on forecasts that colder weather will lead to increased heating demand. A drop in production due Hurricane Nate also helped underpin prices. Traders should nearly no reaction to the U.S. Energy Information Administration’s report showing storage last week increased by slightly more than expected. According to the EIA, utilities … Continue reading Natural Gas Price Fundamental Daily Forecast – Prices May Be Supported by Heating Demand
U.S. oil major Chevron Corp has abandoned plans to explore the deep water off Australia's south coast, long seen as a promising prospect, as weak oil prices are making the work hard to justify, the company said on Friday. Chevron's move follows a decision by BP Plc a year ago to walk away from the waters known as the Great Australian Bight, which industry consultants Wood Mackenzie have estimated could hold 1.9 billion barrels of oil equivalent. "While the Great Australian Bight is one of Australia's most prospective frontier hydrocarbon regions, in the current low oil price environment it was not able to compete for capital in Chevron's global portfolio," Chevron said in a statement.
Gold prices were higher on Thursday but formed a doji day where the open and the close were at the same level. Prices were initially buoyed following Wednesday Fed minutes, but the stronger than expected PPI data released on Thursday buoyed the greenback, which weighed on the yellow metal. Support is seen near the 10-day … Continue reading Gold Price Prediction for October 13, 2017
Natural gas prices rebounded on Thursday rising more than 3.5%, despite warmer than normal weather that is expected to cover most of the United States for the next 8-14 days. The EIA reported a larger than expected build in natural gas inventories. Prices surged to resistance near 3, and a close above this level would … Continue reading Natural Gas Price Analysis for October 13, 2017
Between October 4 and October 11, 2017, natural gas (UNG) (BOIL) active futures had a correlation of 84.3% with US crude oil futures.