• 7 hours Oil Falls As Trump Tweet Blasts OPEC
  • 2 hours Trump's Revenge: U.S. Oil Floods Europe, Hurting OPEC and Russia
  • 3 days Comey vs.Trump, Part 2: Comey's Memos. What's next?
  • 43 mins US eases sanctions on Rusal
  • 3 hours Michael Bloomberg Contributes $4.5 Million For Paris Climate Deal After Trump Bails
  • 3 hours Iran is panicking right now: Currency crunch and kicking it out of oil market
  • 4 hours Oil Prices Hit Highest Level Since 2014
  • 5 hours Investing in Oil & Gas
  • 4 hours Asian Oil Demand To Hit Record - The Price Per Barrel Continues To Grow
  • 3 days HAPPY RIG COUNT DAY!!
  • 3 days The future of oil and gas exploration in New Zealand
  • 3 days Anybody Watching Aluminum Stocks Today??
  • 3 days Maduro Under Pressure: EU Says May Impose More Sanctions On Venezuela If Democracy Undermined
  • 5 hours Trump: "Larry, go get it done,'” - US to rejoin TPP
  • 13 mins Tesla Says Humans In, Robots Out
  • 3 days Venezuela gives Oil Minister 'Extra Powers' to halt production decline

Breaking News:

U.S. Oil Looks To Conquer European Market

Alt Text

The Panama Canal Needs To Be Expanded Again

As United States LNG exports…

Alt Text

A Natural Gas Crisis Looms Over Colombia

Colombia’s energy sector has been…

Alt Text

Qatar's LNG Exports To The UK Plunge

Qatar’s gas exports to the…

Jim Hyerczyk

Jim Hyerczyk

Fundamental and technical analyst with 30 years experience.

More Info

Trending Discussions

Why NatGas Has Room To Rally

Natural Gas

June Natural Gas futures are in a position to post a strong gain for the week following a spike to the upside on May 11, following a smaller storage injection than forecast.

Since reaching a top at $3.422 the week-ending April 7, the market has straddled the middle of its December to March price range with traders hoping for a catalyst to trigger a move that would create some volatility. No one likes a choppy, two-sided trade.

The April to early May price action was typical for this time of year, however, because it’s not hot for increased demand from increased air-conditioner usage, and not too cool for heating demand. This low demand tends to support an increase in supply which weighs on prices and usually drives them lower into the start of the summer.

This year has been a little different from others. Although a lid may have been placed on the market the last five weeks, a floor has also been in place because of relatively low production.

Since the start of the year, U.S. production has remained at its lowest level in three years, averaging just 70.8 billion cubic feet per day during the past 30 days. That compares with 72.0 Bcf during the same period in 2016, 73.4 Bcf in 2015 and 67.9 Bcf in 2014.

In addition to the lower production, bullish traders have also been encouraged by stronger exports, particularly to Mexico. Data from the U.S. Energy Information Administration indicates that U.S. exports were expected to reach 7.3 Bcf the…

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