Your browser of choice has not been tested for use with Barchart.com. If you have issues, please download one of the browsers listed here.
or
Futures Menu

Futures

Futures Prices

Sun, Dec 9th, 2018
[[ timeframe ]] futures price quotes as of Sun, Dec 9th, 2018.
[[ timeframe ]] futures price quotes, based on [[ timeframe ]] data.
Weekly commodity commentary from market professionals delivered to your inbox.
  • Midday Market Minute

    Actionable ideas for ES, NQ, Crude, Gold, Dollar, ZB and much more.

  • Jobs, OPEC and Trade - Blue Line Morning Express

    Out to brokerage clients every single morning with actionable trading ideas.

  • American Exporter. The Energy Report 12/07/18

    While there is so much focus on the drama in the OPEC cartel, the real historic news that went unnoticed was that the United States [...]

  • Downslide Continues...

    Yesterday the Dow once again shed some points as the markets weren't correlated. Will we see the same today? Read on to learn more...

  • RBOB Gasoline Spread

    RBOB January May 2019 Calendar spread to play a difficult market

  • Midday Market Minute

    Actionable ideas for ES, NQ, Crude, Gold, Dollar, ZB and much more.

Futures Market Commentary


Jan Nymex natural gas (NGF19) on Friday closed up +0.161 (+3.72%). Nat-gas prices recovered from a 1-week low Friday and moved higher on signs of smaller U.S. nat-gas output after Friday's data showed that U.S. natural gas production in the lower 48 states fell for a second day to 84.152 million cfd, a 2-1/2 week low. Nat-gas prices had posted that 1-week low Friday after NOAA forecast above-normal temperatures for the U.S. Midwest from Dec 12-16. Friday's weekly EIA inventory data was neutral as U.S. nat-gas inventories fell -63 bcf, close to expectations for a -64 bcf decline. However, U.S. nat-gas inventories remain tight at 2.991 bcf as of Nov 30, -19.5% below the 5-year average and -19.1% y/y and the lowest seasonally since 2002.Big Picture Natural Gas Market Factors: Bullish factors include (1) tight U.S. working gas inventories at -19.5% below the 5-year average, (2) strong global natural gas demand due to firm global economic growth and the need to substitute for coal to reduce global CO2 emissions, and (3) significant U.S. LNG export potential. Bearish factors include (1) near-record U.S. natural gas production and forecasts for production growth of +9% in 2018 and +3% in 2019, and (2) China’s 10% retaliatory tariff on U.S. LNG, which substantially reduces the potential for U.S. LNG exports to China, although China as part of the Dec 1 trade US/Chinese ceasefire agreed to start buying U.S. LNG.

Jan WTI crude oil (CLF19) on Friday closed up sharply by +$1.12 per barrel (+2.18%) and Feb Brent crude (CBG19) closed up +$1.37 (+2.28%). Jan RBOB gasoline (RBF19) closed up by +5.24 cents per gallon (+3.66%). The energy complex rallied sharply Friday with Jan gasoline at a 2-week high after OPEC+ agreed to a larger-than-expected cut in crude output. OPEC+ said at Friday's meeting in Vienna that they agreed to cut crude production by -1.2 million bpd, a bigger cut than the -1.0 million bpd cut in production proposed by Saudi Arabia. Crude prices also moved higher Friday on a weaker dollar and an increase in the crack spread to a 2-week high, which boosts the incentive for refiners to purchase crude to refine into gasoline. Crude prices also have support from Thursday's weekly EIA data that showed U.S. crude inventories plunged by -7.23 million bbl, a much bigger than decline than expectations of -2.0 million bbl.Big Picture Crude Oil Market Factors: Bullish factors include (1) the reinstatement of full U.S. sanctions on Iran as of Nov 5, although the U.S. gave waivers to 8 countries for up to 1.25 mln bpd of Iranian exports, (2) the agreement by OPEC+ on Dec 7 to cut crude oil production by 1.2 million bpd for the first six months of 2019 (Jan-June) (800,000 bpd for OPEC members), which should soak up much of the expected 2019 global oil surplus, and (3) the 50% drop in Venezuelan production seen since 2016. Bearish factors include (1) the surge in U.S. oil production to a record high of 11.7 million bpd, and (2) increased U.S. crude exports that add to global supplies after U.S. crude exports in the week ended Nov 30 rose +761,000 bpd to a record 3.203 million bpd.
Add Data Columns to this Table
Learn about our Custom Views
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
Need More Chart Options?
Right-click on the chart to open the Interactive Chart menu.

Free Barchart Webinar