• 9 minutes WTI @ 67.50, charts show $62.50 next
  • 11 minutes The EU Loses The Principles On Which It Was Built
  • 19 minutes Batteries Could Be a Small Dotcom-Style Bubble
  • 7 mins Saudi Fund Wants to Take Tesla Private?
  • 4 hours Permian already crested the productivity bell curve - downward now to Tier 2 geological locations
  • 1 min Downloadable 3D Printed Gun Designs, Yay or Nay?
  • 1 hour Desperate Call or... Erdogan Says Turkey Will Boycott U.S. Electronics
  • 7 hours Saudi PIF In Talks To Invest In Tesla Rival Lucid
  • 5 hours CO2 Emissions Hit 67-Year Low In USA, As Rest-Of-World Rises
  • 16 hours How To Explain 'Truth Isn't Truth' Comment of Rudy Giuliani?
  • 14 hours Starvation, horror in Venezuela
  • 12 hours Corporations Are Buying More Renewables Than Ever
  • 17 hours Is NAFTA dead? Or near breakthrough?
  • 18 hours China still to keep Iran oil flowing amid U.S. sanctions
  • 17 hours Are Trump's steel tariffs working? Seems they are!
  • 8 hours Film on Venezuela's staggering collapse
Alt Text

The Oil Bulls Are Back

Oil markets had a bullish…

Alt Text

Why The U.S. Won’t Sanction Venezuela’s Oil

Rumors of the U.S. government…

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Trending Discussions

NatGas: This Is The Line In The Sand For Bulls And Bears

Natural Gas Rig

March natural gas futures closed Thursday’s session lower, but still in a position to post a gain for the week. I didn’t think I’d be writing this because on Monday and Tuesday sellers were dominating the trade and the market was headed towards a key value area I had identified. However, we are in a weather market, hence, the direction of the market can change rather quickly. This seemed to be the reason for the rapid turnaround on Wednesday, December 21.

At the start of the week, the weather services were forecasting above-normal temperatures into early January. This was helping to drive prices lower. The selling came to an abrupt halt on December 21 after updated computer models suggested the predicted stretch of above-normal temperatures could end sooner than expected.

To clarify, as of late Thursday, the U.S. models were still predicting normal to above-normal temperatures. The European model indicated Tuesday afternoon and Wednesday morning that a high pressure ridge over Alaska could send Arctic cold down through the rest of North America. Based on the weak price action on Thursday, it appears that traders are still waiting for the U.S. models to confirm the new prediction.

On Thursday, the U.S. Energy Information Administration (EIA) reported that U.S. natural gas stocks decreased by 209 billion cubic feet for the week-ending December 16. Analysts were forecasting a storage decline of between 197 and 210 billion feet so the actual…

To read the full article

Please sign up and become a premium OilPrice.com member to gain access to read the full article.

RegisterLogin

Trending Discussions





Oilprice - The No. 1 Source for Oil & Energy News