(Oil Price)– The supertanker freight futures surged on Thursday and Friday after the U.S. sanctions against Russia’s biggest oil firms created a rush to replace Russian barrels. The front-month supertanker contracts on the route Middle East to China, the benchmark route, jumped by 16% on Thursday, to the highest level in nearly two years, according to data from the Baltic
(BOE Report)– Federal Reserve Governor Michelle Bowman on Tuesday said she continues to anticipate that the U.S. central bank will deliver interest rate cuts at its final two policy meetings of 2025. “I continue to see two more cuts before the end of this year,” Bowman said at an event in Washington. The Fed last month cut its benchmark interest
(Yahoo Finance) – Average daily volume (ADV) in U.S. natural gas futures and options on the New York Mercantile Exchange rose in September from a year earlier, data from its owner CME Group showed. For the month, futures ADV was 492,825 contracts, up 35.3% from a year ago. Futures ADV hit a monthly record of 677,112 contracts in November 2018.
BOE Report U.S. natural gas futures held near an 18-month low on Thursday as the market waits for direction from a federal report expected to show last week’s storage withdrawal was much smaller than usual because the weather then was warmer than normal, keeping heating demand low. That lack of price movement came despite bullish forecasts for colder weather and
Nasdaq U.S. natural gas futures dropped more than 9% to a two-month low on Wednesday on forecasts for warmer weather over the next two weeks than previously expected that could result in lower heating demand. On its last day as the front-month, gas futures NGc1 slipped 49.2 cents, or 9.3%, to $4.790 per million British thermal units (mmBtu) by 09:37 a.m. EST
BOE Report U.S. natural gas futures edged up about 1% to near a one-week high on Tuesday on forecasts for cooler weather through mid-December than previously expected. That price increase, however, was limited by forecasts for less gas demand over the next two weeks than previously expected. In addition to colder weather, which will boost the amount of gas
Nasdaq U.S. natural gas futures on Tuesday held near a three-month low on near record output and forecasts for continued milder-than-normal weather that will allow utilities to keep injecting more gas into storage than usual in coming weeks. Recent drops in demand from storm-related power outages and reduced liquefied natural gas (LNG) exports have also weighed on gas prices. Hurricane
BOE Report U.S. natural gas futures held near a 12-week low on Tuesday on record output and forecasts for lower demand next week than previously expected. Ongoing power outages from Hurricane Ian at 391,000 homes and businesses in Florida after the storm hit the state on Sept. 28-29 helped reduce the amount of gas generators burned to produce
Nasdaq U.S. natural gas futures slid about 1% to a six-week low on Monday on forecasts for lower demand over the next two weeks than previously expected and near record output. Traders also noted prices were down on expectations demand would decline further next month when the Cove Point liquefied natural gas (LNG) plant in Maryland shuts for a
Nasdaq U.S. natural gas futures edged higher ahead of the expiry of the front-month September contract on Monday, with prices recovering from a more than one-week low hit earlier in the session on forecasts for hotter weather and higher cooling demand. Gas futures for September delivery were up 22.4 cents, or 2.4%, to $9.52 per million British thermal units (mmBtu)
Nasdaq U.S. natural gas futures fell about 3% on Monday on rising supplies and forecasts for cooler weather and lower air conditioning demand over the next two weeks than previously expected. Also weighing on gas prices was a 5% drop in oil CLc1, LCOc1 futures O/R and the ongoing outage at the Freeport liquefied natural gas (LNG) export plant in Texas, which has left
Reuters U.S. natural gas futures gained about 3% to nearly a three-week high on Tuesday on a drop in daily output and forecasts for hotter weather and more demand over the next two weeks than previously expected. That heat has already boosted electric demand to record levels in several parts of the country, including Texas, and caused power generators to
