Natural Gas Spikes Sharply Following Inventory Data (4/22)
http://news.briefing.com/GeneralContent/Investor/Active/ArticlePopu...
May natural gas traded in positive territory in the overnight session. Just before the open, the energy component lost steam and fell into the
red, largely due to strength in the dollar index. Ahead of inventory
data, which calls for a build of 78 bcf, natural gas was trading just
off lows of $3.93 per MMBtu that was hit around 10:00ET. Following the
data, which showed a build of 73 bcf, natural gas spiked sharply to new
session highs of $4.13 per MMBtu and is now trading 3.8% higher at $4.10
per MMBtu
May natural gas traded in positive territory in the overnight session. Just before the open, the energy component lost steam and fell into the
red, largely due to strength in the dollar index. Ahead of inventory
data, which calls for a build of 78 bcf, natural gas was trading just
off lows of $3.93 per MMBtu that was hit around 10:00ET. Following the
data, which showed a build of 73 bcf, natural gas spiked sharply to new
session highs of $4.13 per MMBtu and is now trading 3.8% higher at $4.10
per MMBtu
Views: 93
Replies to This Discussion
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Permalink Reply by Streetglide on
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Now if we could just continue that positive course!
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Permalink Reply by essay on
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i really do think we're consolidating above 4, i had hoped for above 5 a couple months ago but here we are. it's a tenuous situation right now, to say the least.
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Permalink Reply by j garrett on
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The spike is supposed to be next week on April 30th when the EIA changes their formula for estimating production / reserves.
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Permalink Reply by essay on
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i'm surprised we didn't slide back into sept lows before bottoming this time, and you're right it might not be over but from what i'm reading most everyone is expecting positive price action from the revision
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Permalink Reply by Henry on
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I'm confused. Natural Gas inventories go up, and are above the 5-year high, and then gas prices rise???
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Permalink Reply by JHH on
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Life is a mystery... so is the economy and so is our government. at some point everything got turned upside down and backwards, jhh
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Permalink Reply by The_Baron on -
Don't forget, we are trading future prices. Traders will want to move gas prices up or down... Thats how they make money, no trader profits by keeping things the same. They do look to the horizopn, and there is a belief (which I disagree with ) that industrial demand is going to come back and that climat change legislation will punish coal and help gas......
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Permalink Reply by Scott on
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With an improving economy, how would industrial demand not start to rise? I've heard that industrial demand has already risen 2 BCFD since this time last year. I'm not saying that's a great improvement but it looks like demand is creeping up slowly but surely. Month after month industrial production continues to improve as well as a rise in the production of durable good which as I understand helps drive manufacturing demand. I've learned alot from you on this site, I'm just curious to hear your thoughts on this. Look forward to hearing a response.
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Permalink Reply by essay on
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another 10 cents today!
i'm not very confident in accelerating industrial demand tbh, but i think there are various market drivers that will keep us going up for a while... would also love to hear the baron elaborate
i've read several respected gentlemen call for at least a couple bucks upside this summer...
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Permalink Reply by Spring Branch,mineral owner on
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I don't drink, but if I did, I'd join you
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