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Market Insights
Natural Gas
Basis
NYMEX
September NYMEX Natural Gas Futures Contract Closed at $2.579 on Monday, August 28th
August 29, 2023
Monday, August 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.657, twelve cents above Friday’s closing price of $2.540. Continuing its pre-session momentum to attain the intraday high of $2.695 by 9:15AM, prices then trended lower. Possibly influenced by t ...
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Market Insights
Heating Oil
Gasoline
Crude
The Oil Market on Monday Breached its Downward Trend Channel and Traded Higher After China Announced Further Measures to Support its Economy
August 29, 2023
Recap: The oil market on Monday breached its downward trend channel and traded higher after China announced further measures to support its economy. China cut its stamp duty on stock trading in its latest attempt to support struggling markets. The market was also supported by Tr ...
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Market Insights
Natural Gas
Basis
NYMEX
September NYMEX Natural Gas Futures Contract Closed at $2.540 on Friday, August 25th
August 28, 2023
Friday, August 25th saw the front-month NYMEX Natural Gas Futures Contract open at $2.505, a penny below Thursday’s closing price of $2.519. Initially trending lower to tally the intraday low of $2.471 ahead of 10:00AM, the contract then reversed direction as forecasts for early ...
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Market Insights
Heating Oil
Gasoline
Crude
The Market Awaited a Speech by Fed Chairman Jerome Powell at the Jackson Hole Symposium for Hints on the Outlook for Interest Rates
August 28, 2023
Recap: The oil market traded higher on Friday as the market awaited a speech by Fed Chairman Jerome Powell at the Jackson Hole Symposium for hints on the outlook for interest rates. The market opened at its low of $78.85 and began its upward trend for the day. The market breache ...
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Market Insights
Natural Gas
Basis
NYMEX
September NYMEX Natural Gas Futures Contract Closed at $2.519 on Thursday, August 24th
August 25, 2023
Thursday, August 24th saw the front-month NYMEX Natural Gas Futures Contract open at $2.436, slightly above Tuesday’s closing price of $2.497. Marking the intraday low of $2.425 soon after 9:00AM, the contract traded sideways along $2.445 as the weekly storage publication drew ne ...
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Market Insights
Heating Oil
Gasoline
Crude
The Oil Market Ended its Streak of Losses With a Small Gain of 0.2%
August 25, 2023
Recap: The oil market ended its streak of losses with a small gain of 0.2% but was still more than 2% lower for the week, as it remained under pressure from weak economic data from major economies released on Wednesday and ahead of a speech from U.S. Federal Reserve Chairman Jer ...
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Natural Gas
Basis
NYMEX
September NYMEX Natural Gas Futures Contract Closed at $2.497 on Wednesday, August 23rd
August 24, 2023
Wednesday, August 23rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.574, slightly above Tuesday’s closing price of $2.560. Ascending to the intraday high of $2.590 within minutes of the open, the contract then trended lower as forecasts remained bearish, and ...
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Market Insights
Heating Oil
Gasoline
Crude
U.S. Business Activity Approached the Stagnation Point in August With Growth at its Weakest Level Since February
August 24, 2023
Recap: The oil market sold off for the third consecutive day on Wednesday as a decline in euro zone business activity deepened more than expected in August and U.S. business activity approached the stagnation point in August, with growth at its weakest level since February. This ...
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Market Insights
Natural Gas
Basis
NYMEX
September NYMEX Natural Gas Futures Contract Closed at $2.560 on Tuesday, August 22nd
August 23, 2023
Tuesday, August 22nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.579, five cents below Monday’s closing price of $2.632. Ascending to the intraday high of $2.636 at 10:00AM, prices then pulled back as the latest weather models showed easing cooling demand fr ...
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Market Insights
Heating Oil
Gasoline
Crude
The Market Remained Focused on the Expectation that China's Sluggish Economic Activity Will Impact Oil Demand
August 23, 2023
Recap: The oil market on Tuesday fell as the market remained focused on the expectation that China’s sluggish economic activity will impact oil demand. The Also, U.S. central bank officials not ruling out further interest rate increases to curb inflation has been increasing dem ...
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