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
Reuters Shares of United States Oil Fund LP fell more than 16% on Monday after it said it would sell all of its front-month crude contracts to avoid a repeat of the heavy losses suffered last week after crude prices cratered. USO, the United States’ largest crude exchange-traded product, declined 39% last week. Retail investors sold the ETF heavily in
EIA On Monday, April 20, 2020, New York Mercantile Exchange (NYMEX) West Texas Intermediate (WTI) crude oil front-month futures prices fell below zero dollars per barrel (b)—at one point, trading at -$40.32/b (Figure 1)—and remained below zero for part of the following trading day. Monday marked the first time the price for the WTI futures contract fell below zero since
From Reuters Oil prices rose in volatile trade on Tuesday supported by expectations of a drawdown in U.S. crude inventories, though gains were capped by worries about a recession and uncertainty over a China-U.S. trade deal. Brent crude LCOc1 settled up 81 cents, or 1.4%, at $59.51 a barrel. U.S. West Texas Intermediate crude CLc1 ended $1.29, or 2.4%, higher
From Reuters China Petroleum & Chemical Corp, or Sinopec, is seeking a tariff exemption for U.S. oil being imported in coming months, sources familiar with the matter said, after Beijing late last week imposed retaliatory tariffs on U.S. goods, including crude oil. The largest refiner in Asia is expected to receive four supertankers carrying 8 million barrels of U.S. crude
From Reuters Franco-American oil services firm TechnipFMC Plc (FTI.N) said on Monday it would spin off its engineering and construction operations into a separate company, leaving it as a technology-focused equipment supplier to oil and gas companies. TechnipFMC, which had a market capitalization of $10.31 billion, said the new Paris-based company will deal with onshore and offshore oil and gas
From Reuters Oil prices fell 1% on Monday on the outlook for increased supply of Iranian crude after France’s president lifted hopes for a deal between Washington and Tehran, but losses were limited by optimism surrounding a U.S.-China trade deal. Brent crude lost 64 cents, or 1.1%, to settle at $58.70 a barrel, after hitting a session high of $60.17.
From Reuters China on Friday said it would impose tariffs on U.S. crude oil imports for the first time, sending prices down nearly 4% to two-week lows as the escalating bilateral trade war fed worries over a slowdown in global oil demand. Beijing said crude would be among the U.S. products hit by tariffs of 5% as of Sept. 1.
From Reuters President Donald Trump on Friday pressured U.S. companies to leave China after Beijing unveiled retaliatory tariffs on $75 billion in U.S. goods, stoking fears their escalating trade war will tip the global economy into recession. Trump, who has accused China of unfair trade practices and pushed for a deal that would rebalance the relationship in favor of U.S.
From Reuters Oil prices weakened on Thursday on worries about the global economy and as equity markets were on edge over the uncertain outlook for U.S. interest rate cuts. Traders are awaiting a speech from Federal Reserve Chair Jerome Powell on Friday in Jackson Hole, Wyoming, that could indicate whether the U.S. central bank will continue to cut interest rates.
