Your browser of choice has not been tested for use with If you have issues, please download one of the browsers listed here.
Stocks | Futures | Watchlist | More

European Energies Futures Prices

Wed, Jul 24th, 2019
[[ timeframe ]] futures price quotes as of Wed, Jul 24th, 2019.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.

Futures Market News and Commentary

Natural Gas Falls Back on Profit-Taking After Monday's Rally

Sep Nymex natural gas (NGU19) on Tuesday closed down -0.018 (-0.78%). Nat-gas prices on Tuesday fell back on some profit-taking after Monday's sharp rally by +2.92%, but nat-gas prices on Tuesday still saw underlying support from expectations for hot weather. The Commodity Weather Group is forecasting above-normal temperatures for the West, Central and Northeast during July 27-31 and is forecasting that the hot weather will continue in the northern half of the U.S. during Aug 1-5. In a supportive factor, U.S. lower-48 gas production on Monday fell -0.7% d/d to 84.753 bcf/d. The consensus is for Thursday's weekly EIA report to show a +38 bcf rise, which would be above the year-earlier figure of +27 bcf but below the 5-year average of +44 bcf. Last week's EIA report was supportive with the rise of only 62 bcf, below expectations of 71 bcf and below the 5-year average of 63 bcf. Last Thursday's EIA report broke the 16-week string of reports that were above the 5-year average, illustrating that the recent hot weather has suppressed nat gas inventories. Last Thursday's EIA data showed that U.S. nat-gas supplies stood at a 6-month high of 2.533 bcf as of July 12, up +12.7% y/y but -5.3% below the 5-year average.
Crude Oil Prices Rally on API Report and US/Chinese Trade Talks

Sep WTI crude oil (CLU19) on Tuesday closed up +0.55 (+0.98%) and Sep Brent crude oil (CBU19) closed up +0.57 (+0.90%). Sep RBOB gasoline (RBU19) closed up +0.0258 (+1.44%). Oil prices rallied on Tuesday on trade optimism after Bloomberg reported that the U.S. and China will resume face-to-face trade talks with U.S. Trade Representative Lighthizer and his team traveling to China early next week for meetings through Wednesday. Crude oil prices were also boosted by Tuesday's API report that U.S. crude oil inventories last week fell sharply by -10.96 million bbls. Another bullish factor was news on Monday that the U.S. sanctioned a Chinese state oil trading company for violating restrictions on buying Iranian oil, which may have the effect of slowing the spigot of under-the-counter Iranian oil sales. Oil prices early Tuesday traded lower due to weak U.S. economic data on home sales, home prices, and the Richmond Fed index. Also, the IMF on Tuesday reduced its world GDP forecasts by 0.1 point for 2019-20 to +3.2% in 2019 and +3.5% in 2020. The consensus for Wednesday's weekly EIA report is for a -3.9 million bbl drop in U.S. crude oil inventories, a -2.0 million bbl drop in gasoline inventories, and a +1.0 million bbl increase in distillate inventories. Last Wednesday's EIA data showed that U.S. crude oil inventories as of July 12 were +5.3% above the 5-year average, gasoline inventories were +1.4% above the 5-year average, and distillate inventories were -1.8% below the 5-year average. U.S. weekly oil production in the week ended July 12 fell by -2.4% w/w to 12.0 million bpd, which was mildly below May's record high of 12.4 million bpd.
Want to use this as
your default charts setting?
Learn about our Custom Templates
Switch the Market flag
above for targeted data.
Open the menu and switch the
Market flag for targeted data.
Get Streaming Chart Updates
Switch your Site Preferences
to Interactive Chart
Read About Upcoming
Changes to This Feature
Need More Chart Options?
Right-click on the chart to open the Interactive Chart menu.

Free Barchart Webinar