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February NYMEX Natural Gas Futures Contract Closed at $2.668 on Wednesday, January 3rd

January 4, 2024
Wednesday, January 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.606, four cents above Tuesday’s closing price of $2.568. Dipping to the intraday low of $2.603 within minutes of the open, bullish forecasts spanning to the middle of the month continue to pr ... Read More

The Market Continued to Trend Lower in Overnight Trading Despite a Rise in Tensions in the Middle East

January 4, 2024
Recap:  The oil market retraced its earlier losses and ended the session higher on Wednesday after posting an outside trading day on Tuesday and ending lower. The market continued to trend lower in overnight trading despite a rise in tensions in the Middle East. The market traded ... Read More
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February NYMEX Natural Gas Futures Contract Closed at $2.568 on Tuesday, January 2nd

January 3, 2024
Tuesday, January 2nd saw the front-month NYMEX Natural Gas Futures Contract open at $2.624, eleven cents above Friday’s closing price of $2.514. Riding the wave of a forecast for bullish temperatures through mid-month, prices recorded the intraday high of $2.631 within minutes of ... Read More

On Its Final Trading Day of the Year, the Oil Market Ended the Session Down 0.17%

January 2, 2024
Recap:  On its final trading day of the year, the oil market ended the session down 0.17%. It also ended the week 2.6% lower and about 10.7% lower on the year, posting its largest one year decline since year end 2020. In overnight trading, the crude market breached Thursday’s low ... Read More
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Oil Market Retraces Gains Amid Easing Red Sea Shipping Concerns

December 29, 2023
Recap: The oil market fell on Thursday as concerns over shipping disruptions along the Red Sea route eased. According to a shipping schedule, Denmark's Maersk will route almost all container vessels sailing between Asia and Europe through the Suez Canal from now on while divertin ... Read More
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Traders Continued to Monitor Developments in the Red Sea

December 28, 2023
Recap:  The oil market posted an inside trading day on Wednesday, as traders continued to monitor developments in the Red Sea. This followed Tuesday’s outside trading session. The market traded mostly sideways in overnight trading, posting a high of $75.66, before it sold off mor ... Read More
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Thin Volume Trading on Monday Following the Long Christmas Holiday Weekend

December 27, 2023
Recap:  The oil market posted an outside trading day, with thin volume trading on Monday following the long Christmas holiday weekend. The market breached its previous low of $73.39 and posted a low of $73.13 in overnight trading as Denmark’s Maersk said on Sunday it planned to r ... Read More
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The oil market remained steady ahead of the long Christmas holiday weekend

December 26, 2023
Recap: On Friday, the oil market remained steady ahead of the long Christmas holiday weekend as the market remained supported by the concerns over the situation in the Middle East following the Houthi attacks on ships in the Red Sea. The market traded higher in overnight trading ... Read More
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January NYMEX Natural Gas Futures Contract Closed at $2.572 on Thursday, December 21st

December 22, 2023
Thursday, December 21st saw the front-month NYMEX Natural Gas Futures Contract open at $2.485, four cents above Wednesday’s closing price of $2.447. Falling to an intraday low of $2.460 by 9:45AM, the contract was trading at $2.478 ahead of the weekly storage publication. Directe ... Read More

Oil Market Sees Volatility as Angola Opts Out of OPEC

December 22, 2023
Recap:  The oil market on Thursday fell as it reacted to cracks in OPEC’s unity following the news that Angola was leaving OPEC. Angola's Oil Minister, Diamantino Azevedo, said the country's membership in OPEC was not serving its interests. Angola, which produces about 1.1 millio ... Read More
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