EUR/USD 1.16000
-0.096%
Gold 4351.32
0.807%
Oil 96.455
-4.051%
USD/JPY 154.055
-0.233%
GBP/USD 1.35086
-0.016%
GBP/JPY 208.111
-0.252%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Russian Ministry of Defense: Russian troops have liberated Zorevka in the Novo-Grishinno and Zaporizhzhia regions of the "Donetsk Peoples Republic".Market news: Iranian president arrives in India.A Russian attack on a gas station in Kyiv, Ukraine, has resulted in one death.September 11th - According to foreign media reports, a spokesperson for the Houthi rebels in Yemen stated, "The Houthi rebels in Yemen will announce a major military operation." Previously, AFP reported that the Houthi rebels had seized control of the Bab el-Mandeb Strait after capturing a strategic location on the Red Sea. The Bab el-Mandeb Strait connects the Red Sea and the Gulf of Aden, and is a vital maritime passage connecting the Indian Ocean, the Suez Canal, and Europe. Approximately 10% of global trade is transported through this waterway.September 11th - According to AFP, the Houthi rebels in Yemen have seized control of the Bab el-Mandeb Strait after capturing a strategic location on the Red Sea. The Bab el-Mandeb Strait connects the Red Sea and the Gulf of Aden, and is a vital maritime passage linking the Indian Ocean, the Suez Canal, and Europe. Approximately 10% of global trade is transported through this waterway. This means that global energy transport is facing pressure from both ends of the Arabian Peninsula. Irans interference with the Strait of Hormuz threatens major export routes from the Persian Gulf, while the Houthi control of the Bab el-Mandeb Strait creates another bottleneck for ships traveling through the Red Sea to the Suez Canal.

Natural Gas prices fall below $2.70 despite USD Index attempts to recover, and demand concerns grow

Alina Haynes

Mar 14, 2023 13:12

截屏2023-01-19 下午3.42.24.png 

 

After a perpendicular recovery to close to $2.70 in the Asian session, Natural Gas futures have turned sideways. Weakness in the US Dollar Index (DXY), in general, has aided the upward bias in natural gas prices. Natural Gas futures appear vulnerable near $2.70 as the USD Index has demonstrated a recovery move to near 103.90 as investors become anxious ahead of the release of the United States Consumer Price Index (CPI) data.

 

The Federal Reserve's decision to raise interest rates is anticipated to have a negative impact on industrial demand for natural gas (Fed). The market anticipates that Fed chair Jerome Powell's scheduled rate hikes will lead to a recession in the near future.

 

Meanwhile, Winter is nearing its conclusion and summer has not yet arrived. Consequently, demand for residential purposes to heat domestic spaces will remain low. Additionally, because residences will require less electricity to operate air conditioners, power companies are less reliant on natural gas.

 

The recent decline in the USD Index is what has given Natural Gas prices new life. The US Energy Information Administration's (EIA) inventory data, which is released every Thursday, will dominate this week's trading in Natural Gas futures.

 

Going forward, investors eagerly anticipate the publication of US inflation data in order to form a new consensus. According to the projections, the headline CPI could fall to 6.0% from the previous release of 6.4%. And, core inflation, which excludes crude and food prices, is anticipated to decrease slightly to 5.5% from the previous release of 5.6%.

Suggestion