Kore Energy’s Post

Kore Energy Market Report for September 10th: The rebound in oil prices has fizzled as poor trade data from China outweighed Gulf of Mexico hurricane disruptions. November Brent is down $1.01, last trading at $70.83/bbl. NBP futures opened strong, with October hitting 91.43p/th, but premiums reversed, and the contract is now down at 89.64p/th. High winds are curbing gas demand, with the GB system forecast long. Full Report here. https://lnkd.in/e7CAXYd6

US natural gas futures fell to below $2.75/MMBtu, declining sharply from the over four-month-high of $3.1 amid lower risk premiums and evidence of ample domestic supply. Shifting perceptions on supply risks from the Middle East triggered declines in natural gas futures among major trading hubs, largely due to Israel’s choice of striking Iran’s oil infrastructure and Tehran’s refrain from further retaliation so far. This compounded data from Wood Mackenzie suggesting that US production rose to 103 bcf per day in late October, near record highs. This was in line with the ample increase in reserves during the fourth week of the month, with EIA data pointing to a 78 bcf build. In the meantime, expectations of more moderate cold weather in the Lower 48 states limited demand for gas-intensive heating, also pressuring prices. Aggressive Energy Who you work with matters to your success! For more information, call 718-644-2011 or email [email protected]

Kore Energy Market Report - July 12, 2024: Positive supply news: Asgard field outage resolved, GB gas system shows 10mcm surplus against 169mcm demand. Freeport LNG in Texas ramps up after hurricane-induced outages. NBP futures flat or slightly lower; front month down 0.26p. Brent up 86 cents to $86.26/barrel, buoyed by U.S. inflation data and potential September rate cut. See full report: https://lnkd.in/emBVrwJZ

May Natural Gas Futures Slightly Lower as Mild Forecast Pressures Prices

OIL REBOUNDS on Mideast Tensions but Set for Weekly Loss - Read More: https://hubs.la/Q02sGpcZ0 Oil rose over 1% on Friday as heightened tensions in the Middle East raised the risk of supply disruptions from the oil-producing region, though the market is set for a weekly loss on expectations of fewer U.S. interest rate cuts this year. #oil #oilgas #energy #oilabdgasinvestments #wti #brentcrude

Falling Pump Prices: The Surprising Reason Gasoline Costs are Declining and What's Next for 2024 ——————— Gas Prices on a Decline Gas prices have trended lower in recent weeks, and while several shifting factors could affect the outlook, experts forecast the national average is likely to continue declining. The average price for a gallon of gas has eased to $3.44, which is 5.6 cents lower than a month ago and 37.2 cents cheaper than it was at this time last year, according to the gas price-tracking app GasBuddy. A Above all else, gas prices are influenced by the cost of crude oil. Oil was trading ... Read Full Article: https://lnkd.in/e33qD2Y8 #PersonalFinance #Economy #EnergyInformationAdministration #GasPrices #MiddleEast #oilprices #OPEC #SaudiArabia

#oilgas #forecast #markets Natural gas tests new lows as traders focus on weather forecasts. WTI oil pulled back amid demand worries. Brent oil made an attempt to settle below the $73.50 level. Natural gas is under strong pressure as traders focus on mild weather forecasts and bet on weaker demand. The technical picture remains bearish as natural gas moved below the support at $2.40 – $2.45. WTI oil is losing ground as traders remain worried about the strength of demand in China and the economic weakness in Europe. A move below the $70.00 level will push WTI oil towards the next support level, which is located in the $67.00 – $67.50 range. Brent oil pulled back amid lack of positive catalysts. Stronger dollar put additional pressure on the oil markets today. RSI remains in the moderate territory, so there is plenty of room to gain additional downside momentum in case the right catalysts emerge. Source: #fxempire 👇 https://lnkd.in/dkrtrVzb

▶ Oil prices softened a little after their recent rally, with Brent down 0.3% to USD 85.07/barrel. ▶ Markets in the US were closed yesterday for Juneteenth National Independence Day – a public holiday that celebrates the ending of slavery in the US – so there is no data for Henry Hub, JKM or WTI futures.

#natgas #Naturalgas is moving higher ahead of the weekend. Current demand for natural gas is high, although it is expected to decline in the next week. From the technical point of view, natural gas remains stuck between the support at $1.65 and the resistance at $1.95. #WTI oil tests new highs amid worries about the situation in the Middle East. Traders are waiting for Iran’s moves after the recent strike on its consulate in Syria. WTI oil has recently managed to climb above the resistance at $85.50 – $86.50, which is a bullish sign. #Brent oil is also moving higher amid rising tensions in the Middle East. Bulls bet that Iran may do something over the weekend. RSI is in the overbought territory, but the current bullish trend stays strong. However, the risks of a pullback are increasing. Source: #fxempire 👇👇👇 https://lnkd.in/d8ts7-Gp

TPI's weekly energy market snapshot in here! Highlights include: Natural gas prices dipped after hitting $3.00, while Brent crude rose to $77.00 amid Middle East tensions. Due to lagging injections, gas surplus shrunk to 5.7% above the five-year average. LNG exports are steady at 12.5 Bcf/d, but European stockpiles near 90% may limit demand until mid-February. Weather outlook shows comfortable temperatures across most of the US, except in California, Southwest, Texas, and parts of the Northeast. Hurricane Milton threatens Florida midweek. Overall, expect low energy demand in the coming week as we enter a shoulder month with less need for heating or cooling. More details: https://hubs.ly/Q02Sq8Dc0 #market #energynews #energymarket #energynews