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Energies Futures Prices

Wed, Dec 11th, 2019
[[ timeframe ]] futures price quotes as of Wed, Dec 11th, 2019.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
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Futures Market News and Commentary

Energy Complex Settles Mixed on Dollar Weakness and Trade Uncertainty

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

Natural Gas Prices Settle Higher as a Weak Dollar Spurs Short-Covering

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

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