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The long-standing differences between Iraq and Kurdistan might finally be easing, and the resulting calm could lead to an extra 100,000 bpd of oil hitting the market
As U.S. sanctions on Iran continue to sting, president Hassan Rouhani has said that the country will continue to export oil despite fresh U.S. sanctions
On November 9–16, the United States Natural Gas ETF (UNG) rose 17.2%, while the ProShares Ultra Bloomberg Natural Gas ETF (BOIL) rose 28%. These ETFs track natural gas futures. UNG holds active natural gas futures contracts, while BOIL’s objective is to track twice the daily changes of the Bloomberg Natural Gas Subindex.
On November 9–16, natural gas December futures rose 14.9% and settled at $4.27 per MMBtu (million British thermal units) on November 16. Last week, natural gas futures recorded the largest weekly gain in 2018.
On November 19, Russia said that it might enter a partnership with OPEC on December 6. The partnership might bring relief to energy investors amid lower oil prices this month. So far, US crude oil prices were 25.8% lower than their multiyear high of $76.41 per barrel on October 3. Last week, the news of a possible production cut limited oil’s fall.
The industrial sector consumed more than 30% of the total natural gas in 2017. US food product stocks like Kraft Heinz (KHC), General Mills (GIS), and Archer Daniels Midland (ADM) will likely be impacted by higher natural gas prices. The PPI (producer price index) for the food manufacturing subsector rose dramatically in 2014. In fact, natural gas prices averaged multiyear high in 2014.
In 2017, natural gas accounted for 32% of the US electricity generation by energy sources, based on the EIA data. In the previous part, we discussed the rise in natural gas usage in the electric power sector.
In September, energy services including the electricity and utility (piped) gas service, had a relative importance of 3.4% to the US CPI-U (Consumer Price Index for All Urban Consumers), according to the Bureau of Labor Statistics. From 2003 to 2004, gas (piped) and electricity had a relative importance of 4.2% to the US CPI-U.
The gold prices bounced higher during the Friday’s trade session, reaching towards the $1220 level. The silver prices rallied a bit during Friday’s session but is facing a lot of selling pressure above. The crude oil prices got a bounce from the $55 level in the Friday’s session, trying to reach towards the $58 level.
The direction of the next major move in natural gas will likely be determined by the weather forecasts for after November 25. Essentially this is the forecast for the last week in November and the first week in December. If it comes out later day then look for a volatile intraday reaction.
Tue, Nov 27th, 2018 18.00 – 19.00 GMT Let Stratton’s James Trescothick tell you more about how hedging away from knowledge is never the best trading choice.
Are you just getting started on your forex trading journey? This webinar is tailor-made for you! Join FXTM’s Head of Education, Andreas Thalassinos, for a special webinar dedicated to forex terminology for beginners.
Price action is one of the core aspects in the FX market. In this webinarof you’ll learn how to take advantage of easy to recognize patterns. We will focus our attention in a very popular pattern: the ‘pin baron
Geo-politics will remain center stage with Britain and Italy heading to their final showdowns, while trade talk chatter will also influence.
North Dakota set oil and gas production records in September, but a slowdown is expected in the coming months due to a sharp drop in oil prices. The state's director of mineral resources, Lynn Helms, said ...
Alaska’s oil and gas industry is booming, with record breaking lease sales across the North Slope, Beaufort Sea, and North Slope Foothills
Based on last week’s close at $1223.00, the direction of the December Comex Gold market next this week is likely to be determined by trader reaction to the first intermediate 50% level at $1222.70.
The week in review: Stocks slide as oil prices fall, the hard sell on Brexit, midterm election recounts continue, California wildfires rage, trouble in Gaza, and a White House housecleaning.
As I predicted in my column last Thursday, oil prices have not crashed. The last trade for the December WTI futures contract will occur on Monday, and with volume on that contract fading (only 53,000 so far today) and volume on the January contract exploding (345,000 traded this morning) it is clear that traders have shifted their focus to the next play. U.S. commercial crude oil inventories rose 10.3 million barrels, and while motor gasoline inventories declined slightly from the prior week's figure and imports declined again, I'd still say on balance the report was slightly negative.
Natural gas prices whipsawed testing support and then surging higher to close up more than 7% on the session. This weeks roller-coaster ride was rumored to have been driven by a short-squeeze which forced traders that were short natural gas and long oil to dump their positions. The lower than average inventories combined with colder than normal weather is likely to reduce stockpiles. Inventories are at the low end of the average range but prices remain well below the 6.25 highs seen in 2014. Natural gas prices rebounded off support near the 10-day moving average at 3.90 and rose throughout the trading session, finishing up more than 7% on the day. Resistance is seen near this weeks highs at 4.92. Momentum is positive as the MACD (moving average convergence divergence) histogram prints in the black with an upward sloping trajectory which points to higher prices.
In an interview with CNBC on November 14, Mark Fisher, a famous energy trader, said that the “worst is over” for crude oil. On November 15, US crude oil prices were 25.8% below their four-year high closing of $76.41 per barrel on October 3.