Natural Gas Mar '23 (NGH23)
Natural Gas Futures Market News and Commentary
Mar WTI crude oil (CLH23) this morning is up +2.69 (+3.63%), and Mar RBOB gasoline (RBH23) is up +7.51 (+3.163%). March Nymex natural gas (NGH23) is up +0.080 (+3.26%).
Crude oil and gasoline prices this morning are sharply higher on optimism about stronger Chinese energy demand after Saudi Aramco on Monday unexpectedly raised its crude prices for Asian customers. Also, global supply concerns support crude prices after Turkey shut down oil flows to its Ceyhan export terminal after Monday's devastating earthquakes. However, Turkey said it expects to resume oil flows later today after no damage to the pipelines was reported. A rally in the dollar index (DXY00) today to a 4-week high is bearish for energy prices.
Mar nat-gas is moderately higher today on hopes that the Freeport LNG export terminal will soon be fully operational. The terminal is expected to receive permission from the Federal Energy Regulatory Commission any day to resume full commercial operations. G... Read more
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