Energies Futures Prices
- Trading the Noise - Blue Line Futures
A Newsletter with actionable ideas, ES, NQ, Crude, Gold and more
- How Low Can Crude Oil Prices Go ?
- A Whole New World OPEC. The Energy Report 03/27/2020
Russia has a plan to stabilize global oil prices. Create a new, bigger, and better OPEC. This comes as pressure mounts in Russia and Saudi [...]
- Markets Advance on Stimulus News
Yesterday the markets advanced with the notion that the economic stimulus bill would pass teh House Of Representatives. That is scheduled for today. Will...
- Relief. The Energy Report 03/26/2020
How do you spell relief? T-w-o-t-r-i-l-l-i-o-n-d-o-l-l-a-r-s. The Senate passed the much-awaited stimulus bill, and now it is up to the House of Representatives...
- Stim Bill? - almost there...
Yesterday the markets advanced based on the notion that an economic stimulus bill would pass Congress. That didn't happen yesterday and the bill must...
Futures Market News and Commentary
Apr Nymex natural gas (NGJ20) on Friday closed down -0.003 (-0.18%).
Nat-gas prices on Friday settled slightly lower on continued concern about reduced nat-gas demand caused by the coronavirus pandemic and related shutdowns. Losses were limited by hopes that the massive stimulus and rescue measures put in place by the world's governments and central banks will ease the economic downturn caused by the coronavirus. The U.S. House of Representatives on Friday passed a $2 trillion rescue package, and sent it to President Trump for his signature.
Nat-gas prices earlier this week on Monday plunged to a 24-1/2 year low on concern about sharply reduced demand for natural gas with the partial shutdown of the global economy on the coronavirus pandemic. Nat-gas demand for heating-cooling and electricity will continue to fall as more U.S. schools, restaurants and other businesses close or curtail hours due to the pandemic.
Warmer-than-normal temperatures are also negative f... Read more
May WTI crude oil (CLK20) on Friday closed down -1.09 (-4.82%), May Brent crude oil (CBK20) closed down -1.41 (-5.34%), and May RBOB gasoline (RBK20) closed up +0.0156 (+2.61%).
The energy complex on Friday settled mixed with Brent crude at a 16-3/4 year low. Crude prices sold off Friday on signs that there is no end in sight to the price war between Russia and Saudi Arabia. Russian deputy oil minister Sorokin on Friday said that OPEC+ alone cannot fix the oil market and "many more countries should participate in rebalancing." Mr. Sorokin also said that crude oil at $25 a barrel is "unpleasant" for Russia but isn't a catastrophe.
The Saudi Energy Ministry said Friday that it hasn't had any contacts with Moscow about oil production cuts, which dashed hopes there might be some diplomatic outreach in progress between Saudi Arabia and Russia.
Crude oil prices also retreated on Friday's comments from Dallas Fed President Kaplan who said we've got a "dramatic oversupp... Read more