Energies Futures Prices
- Midday Market Minute - Blue Line Futures
ES, NQ, Dollar, Treasuries, Crude Oil, Gold, and Silver
- Natural gas Thursday Forecast
The downtrend may be expected to continue, while market is trading below resistance level 2.570, which will be followed by reaching support level 2.300...
- Crude oil Thursday Forecast
The uptrend may be expected to continue, while market is trading above support level 52.80, which will be followed by reaching resistance level 53.75
- Fakeout Shakeout - Blue Line Morning Express
ES, NQ, Crude Oil, Gold, and Silver
- Yellen and Fiscal Front and Center
OUR WHOLE REPORT: ES, NQ, Crude Oil, Gold, and Silver
- Natural gas Tuesday Forecast
An uptrend will start as soon, as the market rises above resistance level 2.634, which will be followed by moving up to resistance level 2.766
Futures Market News and Commentary
Feb Nymex natural gas (NGG21) this morning is down -0.064 (-2.52%).
Feb nat-gas prices this morning are moving lower and are just above Wednesday's 3-week low. Forecasts for warmer U.S. weather that will curb heating demand for nat-gas continues to weigh on nat-gas prices. The Weather Commodity Group today said that the U.S. South and Midwest should see predominantly higher-than-normal temperatures over the next two weeks and that prior forecasts for a polar vortex in the Arctic to drop down into the U.S. later this month is not going to materialize. Also, Maxar on Wednesday said that "warmer risks are possible in the Southwest" from Jan 30 to Feb 3.
Over the longer-term, expectations for a mild winter overall are still expected to depress nat-gas demand and prices. The Commodity Weather Group last Monday said that the national heating demand for nat-gas is expected to remain "well below" the 30-year average over the next two weeks. Also, Maxar is pred... Read more
Mar WTI crude oil (CLH21) this morning is down -0.27 (-0.51%), and Mar RBOB gasoline (RBH21) is down -0.55 (-0.36%).
Crude oil and gasoline prices this morning are weaker on negative carry-over from Wednesday afternoon when the API reported that U.S. crude supplies rose +2.56 million bbl and gasoline stockpiles climbed +1.13 million bbl last week. Also, there is concern that the worsening of the Covid pandemic will lead to more lockdowns that curb economic growth and energy demand. Losses in crude were limited by the tumble in the dollar index to a 1-week low.
Crude oil prices are also under pressure today after JPMorgan Chase late Wednesday cut its crude oil demand estimates for China. JPMorgan cut its China January crude oil demand forecast by -60,000 bpd, cut its February demand forecast by -150,000 bpd, and cut its China March crude demand forecast by -113,000 bpd, citing the spread of lockdowns in China ahead of the country’s Lunar New Year travel r... Read more