natural gas futures news

natural gas futures news

July 26th, 2018

Natural gas futures rose to the highest levels of the session on Thursday, after data showed that supplies in storage rose much less than forecast last week.

The U.S. Energy Information Administration said in its weekly report that natural gas storage in the U.S. rose by 24 billion cubic feet (bcf) in the week ended July 20, below forecasts for a gain of 36 bcf.

That compared with a build of 46 bcf in the preceding week, an increase of 17 bcf a year earlier and a five-year average rise of 46 bcf.

Total natural gas in storage currently stands at 2.273 trillion cubic feet (tcf), according to the U.S. Energy Information Administration.

That figure is 705 bcf, or around 23.6%, lower than levels at this time a year ago, and 557 bcf, or roughly 19.7%, below the five-year average for this time of year.

Front-month U.S. natural gas futures were up 1.7 cents, or around 0.6%, to $2.772 per million British thermal units (btu) by 10:33AM ET. Futures were at around $2.750 prior to the release of the supply data.


gold futures news

gold futures news

July 25th, 2018

Gold futures steadied near a one-year low Wednesday as a leading dollar index eased, while a percolating trade spat between the U.S. and Europe faced a key test in the afternoon meeting between the European Union’s top official and President Donald Trump.

Financial markets from stocks to bonds to precious metals and currencies were largely rangebound as the European Commission President Jean-Claude Juncker and Trump prepared to meet at the White House at 1:30 p.m. Eastern time to try to de-escalate the trade fight.

And see: Tariffs are ‘the greatest,’ Trump says ahead of EU chief’s visit

“The main topic of the talks will be the trade dispute between the two parties that began when U.S. import tariffs were introduced on steel and aluminum from the EU in early June. The EU had responded by slapping tariffs on U.S. products in its turn, and has meanwhile drawn up a list of products that could likewise be subjected to a punitive tariff if the U.S. were to impose further tariffs,” said Carsten Fritsch, commodities analyst at Commerzbank, in a note.

“If contrary to expectations any sort of agreement should be reached between Trump and Juncker, the gold price would probably fall because this would presumably increase the market’s risk appetite,” he said.

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