Two-Week High to Test July Natural Gas Futures Resistance?

Natural gas futures have reached a two week high today as the outlook for the preferred air-conditioning fuel was seen bullish with “warmer than normal” forecasts across most of the country. Natural gas futures are up just over .04 cents today currently trading above $2.74 per million btu’s for September delivery at the New York Mercantile Exchange. Just yesterday, forecasters called for “scorching heat” across most of the USA through Labor Day causing natural gas traders to bid-up the energy almost .10 cents. The high at our nation’s capitol is even expected to be three degrees higher than normal to start September off. “We’ll see demand for natural gas (futures) as long as the weather stays warm and especially when it continues outside its normal parameters,” said Laura Taylor, a senior market strategist at RJO Futures in Chicago, sharing her fundamental assessment of the natural gas futures market. Taylor added, “I think natural gas traders biggest concern right now though continues to be the higher than normal inventory of the fuel.” Natural gas futures is at a crossroads at this time with a high-top possibly in place. If natural gas futures sustain trade below $2.50, then it can lead to a bigger sell-off, but a breakout above $3.00 resumes the up-trend. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...

Natural Gas Futures Lower as Outlook Points to Cooler Temperatures

Natural gas futures extended its sell-off from yesterday reportedly as forecasts predicted for cooler temp’s in the heartland to the eastern regions are driving prices lower. Natural gas futures are down 34 points today currently trading at $2.153 per btu at New York’s Mercantile Exchange. This is the time of year when natural gas traders try to determine spring gas demand by closely monitoring weather forecasts just before warmer weather increases demand. Warmer weather in the southern states is cooling and models now predict “mostly average to below normal temperatures” in the continental 48 states. Laura Taylor, a senior market strategist at RJO Futures in Chicago, shared her fundamental view of the natural gas futures market by stating, “It’s not long until the gas-fired electrical demand is here.” Taylor adds, “The natural gas trade is eager to get this market going, but a sustained demand outlook is what most needed.” Natural gas futures trend is slightly bullish. After this recent sell-off it appears natural gas futures is prime for another spike higher, but for consumers the energy prices are still relatively low. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...

Natural Gas Futures Extend Rally After 18-Year Lows

Natural gas futures reached 18-year lows (of $1.632) only last Thursday, but have been rallying ever since. Natural gas futures are up almost .07 cents today currently trading at $1.78 per btu at the New York Mercantile Exchange. Natural gas traders are said to be closing bets for lower prices ahead of the US Energy Information Administration’s storage report due for release tomorrow. Domestic natural gas storage reportedly stands at 2.536T cubic feet – 31.3% higher than levels this time last year, and 26.3% above the five-year average for this time of the year. Danielle Bourbeau, a commodity broker for Capital Trading Group in Chicago, shared her fundamental view of the natural gas futures market by stating, “Demand for natural gas this year just didn’t materialize because of the El Nino phenomena and storage just keeps adding up.” Bourbeau adds, “Lower natural gas prices is a real plus for consumers.” Natural gas futures trend is down with no “bottoming” formation yet in sight. At these current levels 6% higher off its lows, natural gas futures appear ripe for another selling short opportunity. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...

Natural Gas Futures Find Support After Domestic Storage Data

Natural gas futures may have finally found solid support as freezing temperatures across parts of the country have boosted demand. Natural gas futures are up almost one-half cent today currently trading at $2.205 per BTU at the New York Mercantile Exchange. Today the US Energy Information Administration announced natural gas storage in the week ending last Friday declined by 211B cubic feet – compared to expectations of only 207B. This is reportedly the biggest drop in natural gas storage since February of last year. “The big question for natural gas (futures) now is how is the weather forecasted to behave next, followed by where is the real support for this market?” said Laura Taylor, a senior market strategist at RJO Futures in Chicago, sharing her fundamental assessment of the natural gas futures market. Taylor added, “The natural gas trade had been dropping to the lowest prices ever and this technical bounce higher puts the trade at a crossroad.” Natural gas futures appear to be in an early phase of a possible uptrend. However, consumers can be confident natural gas futures may require more fundamental changes to reverse and sustain higher – still too early to tell. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...

Natural Gas Futures Only Budge After Supply Fall

Natural gas futures data shows domestic natural gas supplies have fallen for the first time this season, but are little changed after the announcement. Natural gas futures are up 16 points currently trading at $2.181 per BTU at the New York Mercantile Exchange. There was an expectation for a 51B cubic-feet decline in supplies, but the US Energy Information Administration stated in its weekly report that domestic natural gas inventories actually fell by 53B cubic-feet in the week ending last Friday (Nov 27). The five year average for the week is actually a set-back of 50B cubic feet. “The natural gas storage drawdown is merely a little more than usual,” said Gerry Plotkin, a Senior Market Strategist for R.J. O’Brien in Chicago, sharing his fundamental assessment of the natural gas futures market. Plotkin added, “The natural gas trade, I suspect, will be monitoring for a pattern of more than usual or unexpected set-backs in supply to possibly turn this market around.” Natural gas futures are in a down-trend with new lows being made just today – so no bottom in sight. Natural gas consumers can enjoy these low prices, but for how long nobody can say for sure. ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU SHOULD THEREFORE CONSIDER WHETHER SUCH TRADING IS SUITABLE FOR YOU IN LIGHT OF YOUR FINANCIAL...

Warmer Weather Forecast Sends Natural Gas Futures Spiraling

Natural gas futures have been in a free-fall for the past week and have spiraled to the lowest levels in the last 3.5 years once recently updated weather forecast models showed unseasonably warmer than usual temperatures in much of the country through the end of next week. Natural gas futures are down .085 cents today currently trading at $2.276 per btu at the New York Mercantile Exchange. The peak season for natural gas demand starts in November and lasts until March, but the outlook for natural gas speculators is bearish as there may be less demand for the product. Fueling this speculation is the view that the Energy Information Administration’s storage report due for release tomorrow is expected to show a build-up of 75B cubic feet through week ending October 23rd. “This year’s weather has been abnormally warm in much of the country, and natural gas (futures) prices have reflected this last spring as well,” said Kevin Craney, Director of Managed Futures at RJO Futures in Chicago, sharing his fundamental assessment of the natural gas futures market. Craney adds, “With inventory levels expected to reach a record amount by the end of this month, it will be a plus for consumers hopefully throughout winter.” Natural gas futures trend is down with no bottom yet in sight. It will take much for natural gas futures to change direction, it seems, at this point – however, the weather does change without notice… ALL COMMENTARY IS CONSIDERED OPINION & VIEWS FROM THE AUTHOR AND NOT A SOLICITATION OF ANY SECURITIES. THE RISK OF LOSS IN TRADING COMMODITY INTERESTS CAN BE SUBSTANTIAL. YOU...