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August NYMEX Natural Gas Futures Contract Closed at $2.632 on Wednesday, July 12th

July 13, 2023
Wednesday, July 12th saw the front-month NYMEX Natural Gas Futures Contract open at $2.664, just below Tuesday’s closing price of $2.731. Shortly after market open, the August contract experienced a brief rally and reached an intraday high of $2.674 at 9:40AM. Following the short ... Read More

U.S. Inflation Data Suggested that Inflation Was Slowing Enough to Allow the Federal Reserve to Stop Tightening U.S. Monetary Policy

July 13, 2023
Recap:  On Wednesday, the oil market was well supported after U.S. inflation data suggested that inflation was slowing enough to allow the Federal Reserve to stop tightening U.S. monetary policy. The Consumer Price Index report showed U.S. consumer prices, excluding food and ener ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.731 on Tuesday, July 11th

July 12, 2023
Tuesday, July 11th saw the front-month NYMEX Natural Gas Futures Contract open at $2.713, just above Monday’s closing price of $2.669. Immediately after open, August prices dropped to an intraday low of 2.676 at 9:10AM. The dip was somewhat short-lived, however, as August prices ... Read More

The Oil Market on Tuesday Continued on its Upward Trend as it Remained Supported by the Supply Cuts by Saudi Arabia and Russia

July 12, 2023
Recap:   The oil market on Tuesday continued on its upward trend as it remained supported by the supply cuts by Saudi Arabia and Russia for August and hopes for higher demand in the second half of the year, as China said it will take more steps to revive its economy with addition ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.582 on Friday, July 7th

July 10, 2023
Friday, July 7th saw the front-month NYMEX Natural Gas Futures Contract open at $2.612, just above Thursday’s closing price of $2.609. Trending higher leading up to the weekly storage publication, prices peaked at an intraday high of $2.675 at 10:15AM. Dropping sharply as the bul ... Read More

Supply Concerns Outweighed Fears that Further Interest Rate Hikes Could Slow Economic Growth

July 10, 2023
Recap:  The oil market continued to trend higher on Friday as supply concerns outweighed fears that further interest rate hikes could slow economic growth. The market was well supported by several fundamental factors, with Vortexa reporting that there was currently 10.5 million b ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.609 on Thursday, July 6th

July 7, 2023
Thursday, June 6th saw the front-month NYMEX Natural Gas Futures Contract open at $2.645, a penny below Wednesday’s closing price of $2.657. In a choppy day of trading, prices initially fell to trade along the $2.610 level for most of the morning as production remains strong and ... Read More

The oil market on Thursday erased its overnight gain

July 7, 2023
Recap:  The oil market on Thursday erased its overnight gain as the market saw a higher likelihood of a U.S. interest rate hike that could impact demand. The Fed’s minutes released on Wednesday showed that a united U.S. central bank agreed to hold rates steady at its June meeting ... Read More
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August NYMEX Natural Gas Futures Contract Closed at $2.657 on Wednesday, July 5th

July 6, 2023
Wednesday, July 5th saw the front-month NYMEX Natural Gas Futures Contract open at $2.721, a penny above Monday’s closing price of $2.709. Ascending early on to record the intraday high of $2.770 by 9:30AM, ample supply levels kept the bulls at bay as the contract pulled back to ... Read More

Trading on Wednesday Appeared to Narrow the Spread Between Brent and WTI

July 6, 2023
Recap:   On Wednesday, the oil market posted an outside trading day as the market weighed the supply cuts announced earlier this week by Saudi Arabia and Russia against the concerns over the global economy. The market traded mostly sideways during Tuesday’s short trading session ... Read More
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