GAZB News and Press, Barclays Bank PLC From 02/03/20

Since early November, the price of nearby natural gas futures fell from a high of $2.905 on the nearby NYMEX futures contract to a low of $1.812, a decline of 37.6% during the peak season of demand during the winter months. In 2019, the low in January was $2.789; in 2018, it was $2.746, and in...

This report covers the week ending January 31, 2020. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 836 bcf for the week ending January 31 (down 9.6% w-o-w (week over week) and down as much as 12.3% y-o-y (year over ye...

In one of our previous articles , we explained why natural gas traders should care about the latest trends in the Electric Power sector and what indicators they should be monitoring. In this article, we would simply like to update you on some of the latest trends. As you know, Electric Powe...

The price of crude oil took the stairs to the upside from early October until January 8. The price rose from just above $50 per barrel to 95 cents below the 2018 high of $66.60 as tensions rose to a boiling point between the US and Iran. Since then, the price has been on an elevator ride to th...

The Weather Last week Last week (ending January 24), the number of heating degree days (HDDs) surged by 25.0% w-o-w (from 158 to 198). However, we estimate that total energy demand (as measured in total degree days, or TDDs) was approximately 12.0% below last year's level and 1.5% below ...

It is always a challenge to attempt to pick a bottom in a commodity, especially when that market as volatile as natural gas. The price action in the natural gas futures arena has been bearish since early November when the price failed at $2.905 per MMBtu on the nearby NYMEX futures contract. L...

This report covers the week ending January 24, 2020. Total Demand We estimate that the aggregate demand for American natural gas (consumption + exports) totaled around 920 bcf for the week ending January 24 (up 14.2% w-o-w (week over week) and up 2.4% y-o-y (year over year)). The devia...

Last year was a banner time for both the stock market and the price of crude oil. Equity prices roared higher with gains of over 22% in the DJIA, almost 29% in the S&P 500 index, and over 35% in the tech-heavy NASDAQ. Meanwhile, the price of NYMEX crude oil futures rose by 34.5%, and Brent...

The Weather Last week Last week (ending January 17), the number of heating degree days (HDDs) edged down by 0.8% w-o-w (from 159 to 158). Cooling demand remained too weak to have a meaningful impact on natural gas consumption. We estimate that total energy demand (as measured in total de...

Natural gas futures (NYSEARCA: UNG ) continued their recent free-fall , with the February contract closing -5.4% to $1.895/MMBtu for the lowest settlement since March 2016, as warmer than normal weather is expected to cover nearly all of the U.S. over the next 6-10 and 8-14 days, accord...