Natural gas higher after storage data

On May 14, 2015, in natural gas futures news, by Infinity Trading
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natural gas futures brokers

May 14, 2015

Natural gas futures were higher on Thursday, after data showed that U.S. natural gas supplies rose less-than-expected last week.

On the New York Mercantile Exchange, natural gas for delivery in June was up 2.33% to $3.033 per million British thermal units. Prices were at around $2.899 prior to the release of the supply data.

In its weekly report, the Energy Information Administration said natural gas storage in the week ended May 8 rose by 111 billion cubic feet, compared to expectations for an increase of 116 bcf.

Total U.S. natural gas storage stood at 1,897 bcf the EIA said. Stocks were 752 bcf higher than last year at this time and 38 bcf below the five-year average of 1,935 bcf for this time of year.

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December 19th, 2012

Natural gas futures dropped in New York for the first time in three days as weather forecasts for late December and early January turned warmer.

Natural gas slid as much as 3.7 percent after Commodity Weather Group LLC in Bethesda, Maryland, predicted mostly normal temperatures in the eastern half of the U.S. from Dec. 29 through Jan. 2. Yesterday’s outlook was for colder-than-average weather in those regions.

“The weather forecast is becoming as volatile as the price,” said Dominick Chirichella, senior partner at the Energy Management Institute in New York. “The temperature outlook became much less supportive and the market just started selling.”

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December 19th, 2012

Gasoline futures and heating oil rose as President Barack Obama and House Republican leaders continued budget negotiations and as a stronger Brent boosted the prices of products produced with imported crude.

Futures climbed on optimism that Obama and House Speaker John Boehner will reach a deal to avert the so-called fiscal cliff, more than $600 billion in automatic tax increases and spending cuts set for January. Brent gained as much as 1.1 percent in London. German business confidence increased for a second month in December.

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October 17th, 2012

Natural gas futures climbed in New York for the first time in three days on speculation that government data may show a smaller-than-normal increase in stockpiles for last week.

Gas advanced as much as 1.3 percent before the Energy Department report tomorrow that may show an inventory gain of 47 billion cubic feet in the week ended Oct. 12, according to the median of 15 analyst estimates compiled by Bloomberg. The five- year average gain for the week is 71 billion.

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October 5th, 2012

Exxon Mobil Corp. (XOM) and Valero Energy Corp. (VLO) are rationing gasoline deliveries to customers in California as refinery halts cut into the state’s supplies, driving pump prices toward record highs.

Valero stopped spot sales in southern California and is allocating the rest of its deliveries to customers. Exxon is also rationing to buyers at West Coast terminals. Retail prices in the state jumped to an average $4.486 a gallon, according to data published today by AAA, the nation’s biggest motoring organization.

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June 4th, 2012

Gasoline futures rose, reversing an earlier loss, as the dollar fell against the euro after European leaders agreed to discuss more cooperation among banks using the European benchmark currency.

Gasoline futures advanced as a weaker dollar boosted the investment appeal of commodities. The euro was up 0.6 percent against the U.S. benchmark after German Chancellor Angela Merkel said systemic banks may need supervision at the European level as the European Union weighs possible steps toward “political union.”

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