- Today's Playbook - Blue Line Morning Express
Covering ES, Crude and Gold. Out to brokerage clients early every morning with actionable trading ideas.
- Shale Storm. The Energy Report 01/23/19
Shale oil producers are still trying to ride out the oil storm but there will be cruel cuts by U.S. shale producers. The false narrative [...]
- Wednesday forecast: EUR/USD, Gold, WTI Crude Oil, Brent, Natural Gas, S&P 500, Dow Jones, DAX (mini)
Forecast and trade ideas
- China News Deflates Markets
Yesterday the Dow dropped by triple digits based on economic news from China. Will that change today? Read on to learn more....
- Midday Market Minute
The landscape and levels. ES, CL, GC, ZB, ZN
- Elliott wave Analysis - Crude oil Unfolding A Sharp, Bearish Reversal
Elliott wave analysis on Crude oil.
Futures Market News and Commentary
Feb Nymex natural gas (NGG19) this morning is up by +0.91 (+2.99%). Nat-gas prices are higher this morning on reduced U.S. nat-gas output after today's data showed that lower-48 state nat-gas production slumped to a 5-1/2 month low of 81.969 bcf. Nat-gas prices on Tuesday dropped to a 1-week low after NOAA said the chances for below-normal temperatures for the next 8 to 14 days in the central and eastern U.S. have diminished from earlier forecasts. Also, Radiant Solutions has forecast "significant warmer changes" across much of the U.S. from Feb 1-5. Thursday's weekly EIA nat-gas inventory data is expected to show that U.S. nat-gas supplies declined last week by -91 bcf. U.S. nat-gas inventories remain tight at -2.0% y/y at 2.533 bcf as of Jan 11, which is -11.4% below the 5-year average.
Mar WTI crude oil (CLG19) this morning is up +$0.26 (+0.49%) per barrel and Mar Brent crude (CBH19) is up +$0.38 (+0.62%). Mar RBOB gasoline (RBG19) is down -0.23 cents per gallon (-0.16%). Crude oil prices are stronger this morning as equity prices edge higher. Also, comments from the CEO of BP, Bob Dudley, gave crude prices a boost when he said that production cuts by OPEC+ should eventually lead to a balanced oil market in 2019. Gains were limited by a stronger dollar and by a decline in the crack spread fell to a fresh 1-3/4 year low, which reduces the incentive for refiners to purchase crude oil to refine into gasoline. Crude prices also fell back from their best levels after the International Energy Agency (IEA) warned that a sharp slowdown in global growth could weigh heavily on oil consumption. Thursday's weekly EIA crude inventory report is expected to show a decline of -500,000 bbl.