This week’s natural gas report released, supplies fall by 204 billion cubic feet

natural gas pipe
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 204 billion cubic feet for the week ended March 8. That was within range of the 208 billion-cubic-feet decline expected by analysts polled by S&P Global Platts. Total stocks now stand at 1.186 trillion cubic feet, down 359 billion cubic feet from a year ago and 569 billion below the five-year average, the government said. April natural gas NGJ19, +0.60% traded at $2.834 per million British thermal units, up 1.4 cents, or 0.5%, from Wednesday's settlement. It was at $2.844 before the supply data.
NYSE:UNG March 14, 2019 11:26am

EIA trims its forecasts for U.S. crude production for 2019 and 2020, lifts price expectations

natural gas pipe
From Myra P. Saefong: The U.S. Energy Information Administration trimmed its forecasts for U.S. crude production for this year and next and lifted its 2019 forecasts for U.S. and global benchmark oil prices, according to its Short-term Energy Outlook report released Tuesday. The EIA forecasts 2019 U.S. crude production of 12.3 million barrels a day, down 0.9% from the February forecast. It also lowered its 2020 output view by 1.3% to 13.03 million barrels a day. For 2019, the government agency lifted its West Texas Intermediate crude price outlook by 2.4% to $56.13 a barrel and its Brent view by 2.9% to $62.78. May Brent LCOK9, +0.20% was up 20 cents, or 0.3%, at $66.78 a barrel. April WTI CLJ9, +0.30% added 35, or 0.6%, to $57.14 a barrel.
NYSE:USO March 12, 2019 4:51pm

Gold prices sag, pull back from $1,300 level

gold bars
From Myra P. Saefong: Gold futures fell on Monday, pulling back after bullion failed to settle above the psychologically significant $1,300 mark despite a rally late last week.
NYSE:GLD March 11, 2019 11:32am

What did this week’s EIA report tell us about natural gas?

natural gas
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 149 billion cubic feet for the week ended March 1. That was within range of the 146 billion cubic foot decline expected by analysts polled by S&P Global Platts. Total stocks now stand at 1.390 trillion cubic feet, down 243 billion cubic feet from a year ago and 464 billion below the five-year average, the government said. April natural gas NGJ19, -0.04% traded at $2.845 per million British thermal units, up less than half a cent, or 0.1%, from Wednesday's settlement. It was at $2.859 before the supply data.
NYSE:UNG March 7, 2019 11:47am

Goldman Sachs (GS) warns rally in commodities may fade

goldman sachs stocks
From Myra P. Saefong: Goldman Sachs has turned cautious on commodities, warning that the sector will need to see more supportive fundamentals to continue its year-to-date rally.
NYSE:GSG March 5, 2019 3:40pm

Analyst predicts Gold ‘more than likely’ to climb to a record high within 2 years

fine gold bars
From Myra P. Saefong: Gold prices have pulled back from a 10-month high in recent sessions, leaving investors wondering why the many geopolitical and economic issues plaguing the market haven't been able to fully support the metal's haven appeal.
NYSE:GLD February 28, 2019 3:29pm

Weekly natural gas report shows a smaller-than-expected weekly decline

natural gas
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 166 billion cubic feet for the week ended Feb. 22. That was lower than the 171 billion cubic foot decline forecasted by analysts polled by S&P Global Platts. Total stocks now stand at 1.539 trillion cubic feet, down 154 billion cubic feet from a year ago and 424 billion below the five-year average, the government said. April natural gas NGJ19, +0.39% traded at $2.813 per million British thermal units, up 1.4 cents, or 0.5%, from Wednesday's settlement. It was at $2.818 before the supply data.
NYSE:UNG

Oil prices rally 3% after weekly report showed a surprise drop in supplies

oil pump
From Myra P. Saefong: Oil futures gained more ground on Wednesday after data from the Energy Information Administration revealed that U.S. crude supplies unexpectedly dropped by 8.6 million barrels. The decline followed five straight weeks of increases and defied most market forecasts. Informa Economics expected a rise of 3.5 million barrels. The American Petroleum Institute data on Tuesday showed a decline of 4.2 million barrels, according to sources. Supplies of gasoline fell by 1.9 million barrels, while distillates edged down by 300,000 barrels last week, according to the EIA. Informa Economics expected supply declines of 1.5 million barrels for gasoline and 2.5 million barrels for distillates. April West Texas Intermediate crude CLJ9, +3.30% was up $1.45, or 2.6%, at $56.95 a barrel on the New York Mercantile Exchange. It was trading at $56.40 before the data.
NYSE:USO February 27, 2019 11:54am

Weekly natural gas report shows a bigger-than-expected decline in supplies

natural gas
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 177 billion cubic feet for the week ended Feb. 15. That was bigger than the 165 billion cubic foot decline forecasted by analysts polled by S&P Global Platts. Total stocks now stand at 1.705 trillion cubic feet, down 73 billion cubic feet from a year ago and 362 billion below the five-year average, the government said. March natural gas NGH19, +1.90% traded at $2.689 per million British thermal units, up 5.3 cents, or 2%, from Wednesday's settlement. It was at $2.669 before the supply data.
NYSE:UNG February 21, 2019 1:20pm

Oil prices climb as cuts implemented by OPEC are starting to have an effect

oil pump
From Myra P. Saefong: Crude-oil futures on Tuesday saw mixed trade, with international benchmark Brent crude edging lower after posting gains in each of the last five sessions, while the U.S. benchmark rose amid reports of falling Saudi Arabian exports.
NYSE:USO February 19, 2019 12:19pm

Weekly Natural Gas EIA report shows a weekly decline of 78 billion cubic feet

natural gas
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 78 billion cubic feet for the week ended Feb. 8. That matched the average forecast of analysts polled by S&P Global Platts, but was well below the five-year average decline of 160 billion. Total stocks now stand at 1.882 trillion cubic feet, down 30 billion cubic feet from a year ago and 333 billion below the five-year average, the government said. March natural gasNGH19, -0.04% traded at $2.584 per million British thermal units, up less than a penny, or 0.3%, from Wednesday's settlement.
NYSE:UNG February 14, 2019 2:44pm

Oil on pace for a 5% weekly drop, due to a weakening global economy and a slowdown in energy demand

oil pump
From Myra P. Saefong: Oil futures remained stuck in a tight trading range Friday, with U.S. the benchmark on track for a weekly loss of nearly 5%, as signs of a weakening global economy threaten a slowdown in energy demand.
NYSE:USO February 8, 2019 1:39pm

Gold on pace to have a small weekly loss due to dollar strength

fine gold bars
From Myra P. Saefong: Gold prices edged higher on Friday, paring an already modest weekly loss as weakness in global stocks boosted haven demand for the precious metal.
NYSE:GLD

Natural gas prices drop by more than 3%, after weekly EIA report

natural gas
From Myra P. Saefong: The U.S. Energy Information Administration reported Thursday that domestic supplies of natural gas fell by 237 billion cubic feet for the week ended Feb. 1. Analysts polled by S&P Global Platts had forecast a decline of 249 billion cubic feet, though the average over the last five years for the same week was a fall of 150 billion. Total stocks now stand at 1.960 trillion cubic feet, down 135 billion cubic feet from a year ago and 415 billion below the five-year average, the government said. March natural gas NGH19, -3.76% traded at $2.596 per million British thermal units, down 6.6 cents, or 2.5%, from Wednesday's settlement. It was trading at $2.615 before the supply data.
NYSE:UNG February 7, 2019 2:29pm

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