Natural gas futures shed over four percent before the weekend

Economies.com
2017-01-20 19:49PM UTC

Natural gas futures shed over four percent in American trade, shrugging off the dollar's drop, which follows earlier data from China, the world'a second largest energy consumer, and amid a lack of data from the U.S., the world's largest energy consumer, as markets witness the leadership change taking place in the White House today.
 
As of 08:21 GMT, natural gas futures due on February 14 tumbled 4.16% to $3.228 a cubic feet, compared to the opening of $3.368, with a session-low at $3.200, and a high at $3.369.
 
Earlier data from China showed the GDP up 6.8% in the fourth quarter, up from 6.7% in the third quarter, while the quarterly seasonally-adjusted reading for the same quarter showed a slowdown in growth to 1.7%, matching expectations and down from 1.8% previously.

China's industrial production and fixed-rate investments slowed down as well, as retail sales rose y/y, besting analysts' expectations.

Yesterday, the Energy Information Administration released its report on U.S. natural gas storage, showing a yawning in the deficit to 243 billion cubic feet in the week ending January 13, up from 151B in the previous reading, and above expectations of 235b, with total inventories now reaching 2.917 trillion cubic feet, down from 3.130 trillion, falling for the sixth week in a row, and below the level reached in the same period last year at 3.348 trillion, and lower than the five-year average at 2.994 trillion.

Commodities News

Oil News

Commodities

Oil prices extend gains after strong US growth data
2024-03-28 13:03PM UTC
Global Oil Prices Global oil prices extended their gains in American trade on Thursday and hit ...
Gold News

Commodities

Gold climbs as dollar stabilizes ahead of important data
2024-03-27 21:29PM UTC
Gold prices rose on Wednesday as markets await important US data this week while the dollar trades ...
Oil News

Commodities

US crude stocks rise unexpectedly
2024-03-27 15:39PM UTC
The Energy Information Administration reported a buildup of 3.2 million barrels in US crude stocks ...

Commodities Technical Analysis

Brent oil Analysis

Commodities

Brent oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Brent Oil Price Analysis Brent oil price fluctuates within tight track since morning, settling ...
Oil Analysis

Commodities

Crude oil price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Crude Oil Price Analysis Crude oil price settles around 82.00$ level since morning, and ...
Silver Analysis

Commodities

Silver price forecast update 28-03-2024
2024-03-28 10:19AM UTC
Silver Price Analysis Silver price faces expected negative pressure to test the key support ...