Commodities Analysis by Investing.com (Barani Krishnan) covering: Natural Gas Futures, WisdomTree Natural Gas 1x Daily Short, TR/CC CRB Natural Gas, iPath® Bloomberg Natural Gas Subindex Total Return(SM) ETN. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
. There’s no certainty yet if a new trend is in place for those who had been off-target week after week — sometimes horrendously — on the number of cubic feet that got injected into underground salt caverns in the United States.
“Given the number of surprises out of EIA across the past few weeks, last week’s reported number was very close to market consensus.” Power generation for the Lower 48 US states was a lot lower last week than the previous week. Generation levels remained low through the holiday weekend, with top-line figures around 480-500 GW. Criterion Research reported that gas gen was down 16.4 gigawatts, or GW, and coal by 14.9 GW.
“Based on preliminary estimates for supply and demand, US natural gas stocks are on track to rise by an estimated 86 bcf for the week in progress.” Rhett Milne of NatgasWeather.com says this week’s EIA report is expected to show another smaller-than-normal build aided by light wind energy generation. In effect, the weather change wipes out most of what has been a steadily reported year-over-year coal-to-gas switching level near 2.5 bcf/d.
Forecasts, though, called for milder conditions later this month, grabbing the futures market’s attention and sparking fresh concerns about supply/demand imbalance as the shoulder season nears.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Oil Bulls Seek $90 Brent as US Summer Nears ExhaustionCommodities Analysis by Investing.com (Barani Krishnan) covering: Brent Oil Futures, Crude Oil WTI Futures, Heating Oil Futures, ProShares UltraShort Bloomberg Crude Oil. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
Read more »
Watch Your Chocolate: This Cocoa Rally Isn’t StoppingCommodities Analysis by Investing.com (Barani Krishnan) covering: US Cocoa Futures, WisdomTree Cocoa 2x Daily Leveraged, ETFS 1x Daily Short Cocoa ETC, Coba 1x Cocoa Daily Long. Read Investing.com (Barani Krishnan)'s latest article on Investing.com
Read more »
Exclusive: Shell, Trinidad weigh Venezuela's natural gas investment demandsShell and Trinidad and Tobago's National Gas Company (NGC) are close to agreeing to credit Venezuela's state-run oil firm for its $1 billion investment in a gas field the three want to jointly develop, four people close to the discussions said.
Read more »
Dominion Sells Natural Gas Utilities to Enbridge for $9.4 BillionThe sale comes as lawmakers and regulators across the U.S. debate the future of natural-gas use in everything from stoves to furnaces.
Read more »
Natural Gas Price Analysis: XNG/USD rebound seeks acceptance from key moving averages near $2.80Natural Gas Price (XNG/USD) prints mild gains around $2.78 while struggling to keep the corrective bounce off the weekly low amid early Wednesday. In
Read more »
Natural Gas Futures: A deeper decline looks favouredConsidering advanced prints from CME Group for natural gas futures markets, open interest rose by around 22.3K contracts after three consecutive daily
Read more »