Saturday, 18 May 2013 04:03
Posted by Abdul Ahad
NEW YORK: US natural gas futures ended up sharply on Friday, backed by a late flood of buying ahead of the weekend despite fairly neutral weather forecasts that are not likely to stir up much demand.Gas prices sold off sharply on Thursday, sinking more than 3 percent after a bearish weekly inventory report.Chart traders said technical buying may have propped up prices on Friday, noting futures seem to have found a bottom after testing and holding technical support in the $3.90 per mmBtu area several times over the last week or so."The weather is still a little bearish, but we managed a net gain for the week. It looks like we hit some buy stops when prices broke the $4 mark," said Steve Mosley at The SMC Report.Front-month gas futures on the New York Mercantile Exchange ended up 12.3 cents at $4.055 per million British thermal units after trading between ...
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NEW YORK: US natural gas futures ended up sharply on Friday, backed by a late flood of buying ahead of the weekend despite fairly neutral weather forecasts that are not likely to stir up much demand.Gas prices sold off sharply on Thursday, sinking more than 3 percent after a bearish weekly inventory report.Chart traders said technical buying may have propped up prices on Friday, noting futures seem to have found a bottom after testing and holding technical support in the $3.90 per mmBtu area several times over the last week or so."The weather is still a little bearish, but we managed a net gain for the week. It looks like we hit some buy stops when prices broke the $4 mark," said Steve Mosley at The SMC Report.Front-month gas futures on the New York Mercantile Exchange ended up 12.3 cents at $4.055 per million British thermal units after trading between ...
NEW YORK: World oil prices rose for the third day in a row Friday after a better-than-expected reading on US consumer confidence boosted hopes for stronger energy demand in the top global economy.The US benchmark contract, West Texas Intermediate for June delivery, rose 86 cents from Thursday to close at $96.02 a barrel.Brent North Sea crude for delivery in July also rose 86 cents, settling at $104.64 a barrel in London.A run of mixed US ...
NEW YORK: Oil prices climbed Thursday despite largely disappointing US data in the world's biggest economy.New York's main contract, West Texas Intermediate for June delivery, closed at $95.16 a barrel, up 92 cents from Wednesday.The European benchmark, Brent North Sea crude for delivery in June, edged up 12 cents to $103.80 a barrel in its final day of trade in London."On the data front, there was no shortage of disappointing news today, although much of ...
NEW YORK: Front-month US natural gas futures ended down sharply on Thursday after a government report showed another weekly inventory build above market expectations.The US Energy Information Administration said total domestic gas inventories rose last week by 99 billion cubic feet to 1.964 trillion cubic feet.Most traders viewed the build as bearish, noting it came in above the Reuters poll estimate of 95 bcf and well above the five-year average increase for that week of ...
