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The Oil Market on Wednesday Erased Some of its Recent Gains Following the Larger Than Expected Builds in U.S. Crude Stocks

November 16, 2023
Recap:  The oil market on Wednesday erased some of its recent gains following the larger than expected builds in U.S. crude stocks. The oil market traded to a high of $78.77 in overnight trading amid the news that China’s economic activity grew in October as industrial output inc ... Read More
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December NYMEX Natural Gas Futures Contract Closed at $3.106 on Tuesday, November 14th

November 15, 2023
Tuesday, November 14th saw the front-month NYMEX Natural Gas Futures Contract open at $3.151, nearly five cents below Monday’s closing price of $3.197. Moving gradually higher to peak at an intraday high of $3.203 at 10:45AM, traders worked to balance updated weather forecasts an ... Read More

The U.S. Dollar Fell on Data Showing Inflation Was Slowing

November 15, 2023
Recap:  The crude market continued on its upward trend on Tuesday, retracing more of last week’s sharp losses after the IEA increased its demand growth forecasts and the U.S. dollar fell on data showing inflation was slowing. The IEA increased its oil demand growth forecasts for ... Read More
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December NYMEX Natural Gas Futures Contract Closed at $3.197 on Monday, November 13th

November 14, 2023
Monday, November 13th saw the front-month NYMEX Natural Gas Futures Contract open at $3.156, twelve cents above Friday’s closing price of $3.033. Continuing the pre-session rally, prices rose to $3.193 at 9:45AM as supportive weather forecasts for the end of the month returned ov ... Read More

OPEC Issued a Report that Countered Concerns Over Declining Demand in the U.S. and China

November 14, 2023
Recap:  The crude market on Monday continued to retrace last week’s losses after OPEC issued a report that countered concerns over declining demand in the U.S. and China. In its monthly report, OPEC said oil market fundamentals remained strong and blamed speculators for a fall in ... Read More
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December NYMEX Natural Gas Futures Contract Closed at $3.033 on Friday, November 10th

November 13, 2023
Friday, November 10th saw the front-month NYMEX Natural Gas Futures Contract open at $3.054, a penny above Thursday’s closing price of $3.041. Ascending to the intraday high of $3.077 by 9:15AM, the contract stabilized near $3.030 by 10:30AM and extended into midday. Marking the ... Read More

Traders Sought Buying Opportunities After the Market Fell to its Lowest Levels Since July

November 13, 2023
Recap:  The crude market traded higher on Friday, as traders sought buying opportunities after the market fell to its lowest levels since July earlier this week. The crude market posted a low of $75.31 in overnight trading before it bounced off that level and retraced its previou ... Read More
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December NYMEX Natural Gas Futures Contract Closed at $3.041 on Thursday, November 9th

November 10, 2023
Thursday, November 9th saw the front-month NYMEX Natural Gas Futures Contract open at $3.128, two cents above Wednesday’s closing price of $3.106. Marking the intraday high of $3.130 within minutes of the opening bell as market fundamentals continue to read as bearish. Without th ... Read More

The Market, Which Lost About 7% in the Previous Two Sessions, Bounced Off its Lows

November 10, 2023
Recap:  The oil market on Thursday retraced some of its previous losses and posted an inside trading day. The market, which lost about 7% in the previous two sessions, bounced off its lows as it took a breather from further losses even as China reported a decline in inflation, a ... Read More
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December NYMEX Natural Gas Futures Contract Closed at $3.106 on Wednesday, November 8th

November 9, 2023
Wednesday, November 8th saw the front-month NYMEX Natural Gas Futures Contract open at $3.096, four cents below Tuesday’s closing price of $3.140. Similar to the previous sessions, prices rose to high early on before retreating due to weak heating demand and steady production; ma ... Read More
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