Energies Futures Prices
- FOMC Day
Yesterday the markets drifted Lower based on geopolitical events. Given that today is FOMC Day, what will the markets do? Read on to learn more...
- Natural Gas Price Fundamental Daily Forecast Slight Tweak in Demand Could Fuel Further Short-Covering
Given the latest Commodity Futures Trading Commission (CFTC) data showing massive managed money short positions and the slight tweak in short-term demand,...
- Midday Market Minute
What's the trade - ES, NQ, Crude, Gold, Bonds.
- Trading the Noise - Blue Line Morning Express
Sign up to receive 1 or all 4 in email each morning. ES, NQ, CL, GC, ZC, ZS, ZW, KE, CT and more.
- Greatly Exaggerated. The Energy Report 12/10/19
Once again the death of Chinese oil demand has been greatly exaggerated. Oil prices paused on U.S.-China trade concerns as well as potential interest rate...
- No News is Not Good News
Yesterday the markets retreated with no economic news at all. Will the markets continue its downward trend? Read on to learn more...
Futures Market News and Commentary
Jan WTI crude oil (CLF20) on Tuesday closed up +0.22 (+0.37%), Feb Brent crude oil (CBG20) closed up +0.09 (+0.14%), and Jan RBOB gasoline (RBF20) closed down -0.0023 (-0.14%).
The energy complex on Tuesday settled mixed as a weaker dollar offset trade uncertainty. Crude prices found support on a Bloomberg report early Tuesday that said U.S. and Chinese trade negotiators are laying the groundwork to delay a new round of U.S. tariffs on $160 billion of Chinese goods that are scheduled to be implemented this Sunday, Dec 15. However, White House advisor Kudlow said later Tuesday that President Trump has not yet made a decision on whether to delay Sunday's tariff and that the tariff therefore remains on the table at present.
Better-than-expected global economic data on Tuesday was positive for growth and energy demand prospects after the German Dec ZEW survey expectations of economic growth rose +12.8 to a 1-3/4 year high of 10.7, stronger than expectations of +2.4 to 0.3.... Read more
Jan Nymex natural gas (NGF20) on Tuesday closed up by +0.032 (+1.43%).
Jan nat-gas prices moved higher Tuesday as a weak dollar sparked fund short-covering in nat-gas futures.
Jan nat-gas on Monday plunged to a 3-1/2 month low on forecasts for warm U.S. temperatures to last through December, which would reduce heating demand for nat-gas. The Commodity Weather Group said Tuesday that a colder forecast for Dec 15-19 is offset by a warmer outlook for Dec 20-24, with above-normal temperatures seen across most of the lower 48 U.S. states toward the end of the month.
High U.S. nat-gas production continues to be a bearish factor with lower-48 nat-gas production Tuesday up +7.3% y/y at 94.138 bcf/d. Strong U.S. nat-gas output has caused U.S. nat-gas inventories to rise sharply in recent months to the current level of +20.1% y/y from -22.3% y/y last March.
A positive for nat-gas is expectations for Thursday’s weekly EIA nat-gas inventories to fall by -77 bcf, a bi... Read more