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May NYMEX Natural Gas Futures Contract Closed at $2.097 on Monday, April 3rd

April 4, 2023
Monday, April 3rd saw the front-month NYMEX Natural Gas Futures Contract open at $2.113, ten cents below Friday’s closing price of $2.216. Ascending to the intraday high of $2.160 by 9:15AM, bulls had exhausted their efforts as forecasts made a convincingly bearish shift over the ... Read More

OPEC and its Allies Surprised the Market With an Announcement on Sunday That it is Cutting its Production

April 4, 2023
Recap:  The oil market surged higher on Monday after OPEC and its allies, including Russia, surprised the market with an announcement on Sunday that it is cutting its production target by a further 1.16 million bpd starting in May. OPEC+, had been expected at its monthly meeting ... Read More
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U.S. Inflation Data Showed Some Signs of Price Pressures Easing

April 3, 2023
Recap:  Oil prices continued to move higher on Friday as U.S. inflation data showed some signs of price pressures easing. The market posted a low of $73.77 in overnight trading before it bounced off that level and continued to retrace its previous losses. The market retraced more ... Read More
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May NYMEX Natural Gas Futures Contract Closed at $2.104 on Thursday, March 30th

March 31, 2023
Thursday, March 30th saw the front-month NYMEX Natural Gas Futures Contract open at $2.142, four cents below Wednesday’s closing price of $2.184. Ascending to the intraday high of $2.165 shortly after 9:30AM, the contract fell to trade near $2.125 ahead of the weekly storage publ ... Read More

The Oil Market on Thursday Posted an Outside Trading Day as it Continued to Erase Wednesday's Early Gains

March 31, 2023
Recap:  The oil market on Thursday posted an outside trading day as it continued to erase Wednesday’s early gains in overnight trading and later bounced higher. The market extended its previous losses as it posted a low of $72.61 in overnight trading. However, the market bounced ... Read More
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May NYMEX Natural Gas Futures Contract Closed at $2.184 on Wednesday, March 29th

March 30, 2023
Wednesday, March 29th, settlement day for the April contract saw the front-month NYMEX contract open at $1.981, five cents below Tuesday’s closing price of $2.030. In a sparse day of trading, prices rose to an intraday high of $2.083 and settled at $1.991. The more actively tr ... Read More

The Crude Market Was Well Supported by the API Report Showing an Unexpected Draw in Oil Stocks

March 30, 2023
Recap:  The oil market traded lower following some choppy trading as traders took profits following two consecutive days of gains. Early in the session, the crude market was well supported by the API report showing an unexpected draw in oil stocks of 6.1 million barrels on the we ... Read More
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April NYMEX Natural Gas Futures Contract Closed at $2.030 on Tuesday, March 28th

March 29, 2023
Tuesday, March 28th saw the front-month NYMEX Natural Gas Futures Contract open at $2.094, nearly a penny above Monday’s closing price of $2.088. Posting a staggered ascent through the morning to reach an intraday high of $2.114 ahead of 11:00AM, prices then withdrew through the ... Read More

The Crude Market Continued to Trend Higher on Tuesday Following Monday's Sharp Gains

March 29, 2023
Recap:  The crude oil market continued to trend higher on Tuesday following Monday’s sharp gains on supply disruption risk from the Iraqi Kurdistan region. Iraq has been forced to halt about 450,000 bpd of its exports from its northern Kurdistan region through Turkey after an arb ... Read More
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April NYMEX Natural Gas Futures Contract Closed at $2.088 on Monday, March 27th

March 28, 2023
Monday, March 27th saw the front-month NYMEX Natural Gas Futures Contract open at $2.119, ten cents below Friday’s closing price of $2.216. Following a bearish shift in weather models over the weekend, prices rose to the intraday high of $2.136 by 10:15AM. Continuing the pre-open ... Read More
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