The U.S. electric power sector burned through a record amount of natural gas in recent weeks, a sign of the shifting power generation mix and also a signal that natural gas supplies could get tighter than many analysts had previously expected. The EIA reported a surprise drawdown in natural gas inventories for the week ending […]
I wanted to send a special update regarding the Global Energy Conference I am attending here in Geneva. This is A yearly conference that brings all major players of Petroleum, Natural Gas, Electricity, Power and Renewables Industries together to discuss current challenges and opportunities. Obviously, the big question and discussion is where Crude Oil is […]
Its official Crude oil and the products have moved lower putting in an interim top in the last two weeks…will natural gas follow suite? As I said in my piece yesterday Crude broke the up-sloping trend line that has been in place all of 2014 and lower trade looks likely. Futures found mild support at […]
I’ve pointed this out several times in recent weeks but a sleeping giant was awoken 9 weeks ago. Natural gas has been on a tear from early November adding $1 move in the futures market from the first week of November until peaking in Mid-December just above $4.50. In the last two weeks February has […]
Since putting in a low on 8/8 at $3.15 October natural gas futures have advanced 11% lifting this contract to the down sloping trend line(blue line) that has served as resistance since mid-May. It was a positive development in recent sessions to trade above both the 8 and 18 day MAs. Above the trend line […]
Natural gas has traded lower the last 6 sessions and is currently trading off the lowest levels in 13’. Looking back 16 months one can identify on the chart below that a gap was filled from 4/23 this week. Stochastics are showing the most oversold conditions in 5 weeks when futures managed to rally 30 […]
Natural gas futures are higher by 5% as of this post after the weekly inventory report showed a smaller than expected build in storage levels. The EIA showed storage levels rose by 58 billion cubic feet in the week ending July 12th. Analyst surveyed prior to the #s release had anticipated the report to show […]
September natural gas futures are lower by 13.1% in the last 3 weeks and lower by 15.9% from their highs made on 5/1. As it stands futures are just under their 61.8% Fibonacci level (lower white jagged line) and attempting to trade back above the 8 day MA (orange line). Stochastics indicate an oversold market […]
$4.45 is the line in the sand for natural gas as June futures have been rejected on all recent attempts to move higher. Futures have given up the last three sessions, something that hasn’t happened since March. Today’s slide is the worst with prices down nearly 7% as of this post. Those not already involved […]
Natural gas has been one of the best performing commodities in recent months for the bulls with prices appreciating by 33% off their lows in mid-February bouncing from $3.30 and making its way last week north of $4.40. This lifts prices to their highest level since July of 2011. Coincidence or not in 2011 from […]
