gasoline futuresJanuary 2nd, 2019

Gasoline prices at the pump have dropped to their lowest in about a year and half, but could jump by 35% as soon as May, with output cuts by major oil producers expected to boost the price of oil, according to gasoline-price tracker GasBuddy.

The national average price for gallon of gasoline got its lowest start to a year since 2016, “when the national average was also near free fall and eventually hit $1.66 a gallon, said Patrick DeHaan, head of petroleum analysis at GasBuddy.

At an average of $2.229 Wednesday afternoon, gasoline prices were at their cheapest since July 2, 2017, he said, adding that a price of $2.22 would be the lowest since President Donald Trump entered office.

Prices have declined “nearly every day for the last 80 or so,” DeHaan said. “Americans are spending $260 million less on gasoline today than they did some 80 days ago.”

GasBuddy’s 2019 gasoline forecast released Wednesday shows gasoline averaging $2.70 a gallon this year. That would mark a modest three-cent decline from the average for 2018.

In a tweet early Wednesday, President Donald Trump said the low gas prices “are like another Tax Cut!”

Trump’s actions on trade with China will have a big impact on retail prices for gasoline, said DeHaan. “I really see his decision playing a decent size role,” he said, with a China trade deal being “big enough to push the economy up or down, depending on specifics.”

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crude oil futures news

crude oil futures news

December 31st, 2018

Crude futures plunged to fresh 17-month lows Monday amid fears of a sell-off amid the dramatic fall in equity markets, along with a partial US government shutdown. The decline comes despite OPEC ministers reiterating that they are committed to production cuts which kick off in January.
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At 1505 GMT, ICE February Brent crude futures were down 86 cents/b from Friday’s settle at $52.96/b, while the NYMEX February light sweet crude contract was down $1.16 cents/b at $44.43/b.

The steady decline in oil prices over the past few weeks has caused concern to several OPEC ministers, with some reiterating that the group’s production cuts may even be extended from June next year, if needed.

The UAE energy minister Suhail al-Mazrouei told reporters on Sunday that if the OPEC and non-OPEC producers’ plan to take 1.2 million b/d off the market does not work, there is always an option to call an extraordinary meeting.

“If we are required to extend for [another] six months, we will do it … I can assure you an extension will not be a problem,” Mazrouei said.

Petromatrix analyst Olivier Jakob said that despite “repeated comments from OPEC members that they are serious about supply reduction, and that they can consider doing additional cuts if the market balance does not improve,” the market is expected to be locked in a bearish cycle.

Meanwhile on the supply side, Libyan crude production remained down by 400,000 b/d as the country’s largest field Sharara remains shut-in, according to the state-owned National Oil Corporation. This was despite assurances from the country’s UN-backed government that the site would reopen soon.

China released its recent oil data earlier in the day which showed that its overall crude supply in November surged 12% from a year ago to 426.17 million barrels, and rose 6% from October, led by a sharp increase in net crude imports, while domestic crude output was largely rangebound.

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dow jones futures brokers

dow jones futures quotes

December 12th, 2018

Dow Jones futures closed higher on Wednesday as investors digested news related to the ongoing trade war between the United States and China.

The Dow Jones Industrial Average rose 157.03 points to 24,527.27, led by gains in Caterpillar. The S&P 500 climbed 0.6 percent to close at 2,651.07 as the consumer discretionary sector outperformed. The Nasdaq Composite jumped 1 percent to 7,098.31 as Facebook, Amazon, Netflix and Google-parent Alphabet rose.

The major averages came off their highs in afternoon trading. The Dow had risen as much as 458.05 points, while the S&P 500 gained 1.85 percent at its session high. The Nasdaq rose as much as 2.35 percent.

“There’s a lot of anxiety around there,” said Dan Deming, managing director at KKM Financial. “The market is just dealing with some headline issues it just can’t seem to shake off.”

“Until we get some resolution to some of those issues, I think this will continue,” Deming said.

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Crude Oil 3December 3rd, 2018

Oil prices jumped by more than 5 percent on Monday after the United States and China agreed to a 90-day truce in a trade dispute, and ahead of a meeting this week of the producer club OPEC that is expected to cut supply.

U.S. light crude oil rose $2.92 a barrel to a high of $53.85, up 5.7 percent. The contract last traded $2.12, or 4.2 percent, higher at $53.05.

Brent crude rose 5.3 percent or $3.14 to a high of $62.60. It was up $2.36, or 4 percent at $61.71 shortly after 9 a.m. ET (1400 GMT).

China and the United States agreed during a weekend meeting in Argentina of the Group of 20 leading economies not to impose additional trade tariffs for at least 90 days while they hold talks to resolve existing disputes.

“From Argentina to Alberta, the oil market news is about supply curtailments,” said Norbert Rücker, head of commodity research at Swiss bank Julius Baer. “A brightening market mood will likely extend today’s price rally in the very near term.”

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Crude oil futures quotes

Crude oil futures quotes

November 29th, 2018

Crude oil futures prices underwent a selloff on Thursday with U.S. crude falling below the $50 a barrel level for the first time in more than a year amid persistent concerns about oversupply.

New York-traded West Texas Intermediate crude futures fell 47 cents, or 0.93%, at $49.82 a barrel by 4:45 AM ET (9:45 GMT). That was its lowest level since Oct. 9, 2017.

Brent crude futures, the benchmark for oil prices outside the U.S., traded down 74 cents, or 1.25%, to $58.35, after hitting its lowest level since Oct. 24, 2017.

Prices came under renewed selling pressure after data on Wednesday showing that U.S. crude inventories increased again last week, hitting their highest levels in more than a year. In its weekly report, the Energy Information Administration said oil stockpiles increased by 3.57 million barrels to 450 million barrels.

Prices also remained under pressure after Russian President Vladimir Putin indicated that he is comfortable with current levels, casting doubt on OPEC’s ability to move ahead with significant production cuts. Putin said Wednesday that prices of around $60 per barrel were “absolutely fine” as the Russian budget would be balanced at $40.

Saudi Arabia has been pushing OPEC and its non-OPEC allies, led by Russia, to agree to reduce production given the more than 30% decline in prices since last October.

Analysts believe that the group will announce a reduction of 1.1 million barrels per day when they meet in Vienna on Dec. 6-7.

With the U.S. and Saudi Arabia producing at record levels and rising inventories in the U.S., investors have been concerned that OPEC will be unable to counteract increasing supply.

Traders will keep an eye on this weekend’s G20 summit where Putin is expected to meet on the sidelines with Saudi Arabia’s Crown Prince to discuss plans for output.

“We are now in contact with OPEC and if needed, we will continue this joint work,” Putin said referring to the current agreement to help stabilize markets.

- Investing.com.

Gasoline Prices Near Lowest Of Year

On November 26, 2018, in gasoline futures trading news, by Infinity Trading
gasoline futures brokers

gasoline futures brokers

November 26, 2018

Gasoline prices are quickly approaching the lowest prices of the year, and motorists should see additional discounts this week. Just as retailers cut prices on Black Friday, the price of crude also dropped by more than 10 percent – amid concerns that strong global oil production will overpower demand.

Gasoline prices in Georgia are closing in on the lowest of 2018. Sunday’s daily average of $2.39 per gallon is 4 cents higher than this year’s lowest price, established on January 1. The Georgia state average has declined a total of 41 cents in the past 44 days. During the past week alone, it dropped 9 cents

Average prices are at or near the lowest of the year in metro areas like Albany, Atlanta, Columbus, Dalton, Gainesville, Rome, and Valdosta. Click here and scroll down to check daily metro average gas prices.

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Natural Gas Traders Bracing for Triple-Digit Draw

On November 22, 2018, in natural gas futures news, by Infinity Trading
natural gas futures news

natural gas futures news

November 21, 2018,

Natural gas futures are on the rise early Thursday, well ahead of today’s U.S. Energy Information Administration report. Today’s report is one day early because of tomorrow’s U.S. Thanksgiving holiday. It’s also scheduled for a different time at 1700 GMT.

At 0810 GMT, January Natural Gas futures are trading $4.765, up $0.239 or +5.31%. The high of the session is $4.875. This is slightly below last week’s spike high at $4.964.

Pre-report estimates are calling for a triple-digit withdrawal for the week-ended November 16. The range guesses are minus 92 Bcf to minus 121 Bcf. Last year, the EIA reported a 42 Bcf withdrawal for the same period. The five-year average for this time of year is a withdrawal of 25 Bcf. So if you do the math, today’s withdrawal is expected to come in at nearly 4 times the five-year average. That’s very bullish if you’re keeping score at home.
Why is this important?

A triple-digit withdrawal will be major news since it’s still only November and the winter heating season is just getting started. Furthermore, it will significantly widen the year-on-year and five-year storage deficits. This could pose problems later in the winter season if the cold blasts continue.

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crude oil futures quotes

crude oil futures quotes

November 20th, 2018

Crude oil futures plummeted around 4% on Tuesday, falling deeper into a bear market, as markets became increasingly worried that supply will outstrip waning demand and OPEC reportedly remained undecided on the size of A production cut.

New York-traded West Texas Intermediate crude futures slumped $2.36, or 4.13%, at $54.84 a barrel by 11:02 AM ET (16:02 GMT).

Meanwhile, Brent crude futures, the benchmark for oil prices outside the U.S., sank $2.62, or 3.92%, to $64.17.

With Tuesday’s decline, U.S. crude hit its lowest level since October 2017 and has fallen nearly 30% from the four-year high reached this year on Oct. 3.

Investors remain concerned that a global economic slowdown will dampen demand even as key producers — mainly the U.S., Saudi Arabia and Russia — continue to ramp up production.

According to the oilfield services firm Baker Hughes, the U.S. rig count rose by 2 to 888 last week, the highest level since March 2015.

The latest data from the U.S. Energy Information Administration showed that U.S. crude production hit a record 11.7 million barrels per day (bpd), marking an increase of more than 20% since a year earlier.

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natural gas futures brokers

natural gas futures brokers

November 12th, 2018
Natural gas futures surged to their highest level in roughly four years on Monday, as cold weather forecasts for most parts of the United States over the next two weeks boosted expectations for heating demand.

U.S. natural gas futures jumped 8.5 cents, or around 2.3%, to $3.804 per million British thermal units by 9:05AM ET (1405GMT), having earlier reached its best level since December 2014 at $3.906.

Futures surged 13.2% last week, marking the largest weekly percentage climb since the week ended Jan. 12 of this year

Forecasts are now pointing to temperatures in mid-November that are more typical of the middle of December, with cold bursts expected in the Midwest, across Texas and the South and throughout New England.

Natural gas prices typically rise ahead of the winter as colder weather sparks indoor-heating demand.

The heating season from November through March is the peak demand period for U.S. gas consumption.

Meanwhile, market participants looked ahead to storage data for the week ending November 9, due out on Thursday.

Total natural gas in storage currently stands at 3.208 trillion cubic feet (tcf), according to the U.S. Energy Information Administration, the lowest level for this time of year in around 15 years.

The last time supplies were this low in the first week of November was in 2003.

- Investing.com.

soybean futures brokers

soybean futures brokers

November 2nd, 2018

U.S. soybean futures scaled to two-week peaks on Friday on signs of easing trade tensions between Washington and Beijing, but slipped from the highs after a White House official said he was less optimistic that a trade deal could be reached.

Corn futures also climbed, lifted by expectations for a cut to the U.S. Agriculture Department’s U.S. crop forecast in a monthly report next week, while wheat edged up in tandem with firming corn.

Soybeans posted their steepest gain in four months on Thursday after U.S. President Donald Trump and China’s Xi Jinping spoke on the phone about trade and agreed to meet this month at the G-20 meeting in Argentina. The rally put the soy market on track for the strongest weekly advance in 16 months.

“Both presidents are putting out some optimistic vibes in terms of the potential for a trade deal,” said Terry Linn, analyst with Linn & Associates. “Both sides are talking and the meeting is set up in just under three weeks. Maybe something will happen.”

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