Commodities Analysis by Investing.com (Barani Krishnan) covering: Chevron Corp, Natural Gas Futures, Chevron, Chevron Corp DRC. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
Below-normal 80-bcf storage build forecast for last week due to higher consumptionMost commentators will tell you it’s a different gas market today than the one that was wallowing at mid-$2 for months — after an unbelievably warm winter for 2022/23, followed by all-time highs in daily production and a summer that despite seeing record heat on many days did not translate to runaway demand for LNG, or liquefied natural gas.
“But value-seeking buyers are also likely to surface at that point, resuming the uptrend that could see us $3.34. If that goes without too much trouble, then the next leg higher would be the 200-week SMA, or Simple Moving Average, of $3.78.” Gas futures on the Henry Hub did find fresh footing early Wednesday, rising 8.0 cents in morning trading, before reversing to close lower as output hovered at around 102.5 billion cubic feet per day and near record levels of above 103 bcf/d reached earlier in the week, as per Bloomberg estimates. Maintenance work in the Permian Basin, the engine of recent volume gains, triggered the modest downward production revision.
NatGasWeather said much of the country would warm to near or above-normal high temperatures between Wednesday and Saturday, creating mild conditions and dampening demand.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Natural Gas jumps as Biden is set to visit IsraelNatural Gas prices are increasing by around 1% on Tuesday, paring back partial losses from Monday. The upward move is due to the announcement that US
Lire la suite »
The next front in the climate fight: U.S. exports of natural gasApproval of new gas export terminals will lock in greenhouse gas emissions for decades, say activists, who are pressing Biden to halt these projects.
Lire la suite »
Natural Gas Futures: Still scope for further weaknessOpen interest in natural gas futures markets extended their uptrend for yet another session on Tuesday, this time by nearly 12K contracts according to
Lire la suite »
The threat to natural gas production will impact Pennsylvania’s power gridNatural gas accounts for about half of Pennsylvania’s electricity generation.
Lire la suite »
Natural Gas Futures: Some consolidation should not be ruled outCME Group’s flash data for natural gas futures markets noted traders added around 7.5K contracts to their open interest positions on Wednesday, extend
Lire la suite »
Heating Bills Should Fall This Winter for Most AmericansNatural gas and electricity are set to decline after a large increase last year.
Lire la suite »