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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crude oil futures 101

crude oil futures 101

November 1st, 2018

Investors are growing increasingly pessimistic about the direction that the oil market is heading in, and their negative outlook is helping to drag down crude oil prices.

Hedge funds and other money managers continue to slash their bullish bets on oil futures, a trend that has led to a dramatic reshuffling in the makeup of investor positioning. For the week ending on October 23, long-to-short bets fell to a 4:1 ratio, a sharp reduction from the nearly 26:1 makeup in July, according to the Wall Street Journal.

The liquidation of bullish bets shows a sharp reversal in market sentiment. Over the summer, sanctions on Iran combined with the temporary outage in Libya led to fears of a supply shortage, pushing investors to stake out ever-increasing volume of bullish bets on crude futures. That sentiment stalled in August as Turkey’s currency crisis exploded, and a range of other emerging markets saw their economies hit the skids.

Bullish sentiment renewed in September as Iran sanctions loomed, and the disruptions to Iran’s oil exports proved to be worse than previously expected. However, a month later, the global economy is showing some worrying signs of a slowdown, while Saudi Arabia has pledged to increase production to cover for any shortfall left over by Iran.

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