Natural gas futures are rallying on Thursday after the US government reported the fourth consecutive weekly decline in domestic inventories. But natural gas prices have plunged over the last week on investor concerns that cold temperatures will not be enough to lift demand to counter the output surge. January natural gas futures rose $0.035, or 1.41%, to $2.275 per million British thermal units (btu) at 15:07 GMT on Thursday on the New York Mercantile Exchange. Natural gas is on track for a weekly slide of about 5%, adding to its year-to-date loss of 20%. According to the US Energy Information Administration (EIA), domestic stockpiles declined by 73 billion cubic feet for the week ending December 6, which is close to what the market had penciled in. In total, … [Read More...]

Natural gas futures are rising on Thursday after the US government reported the third consecutive weekly decline in inventories. Despite its double-digit decline over the last month, natural gas could spark a year-end rally as a cold-weather spell is expected to ignite demand across the US. January natural gas futures rose $0.047, or 1.96%, to $2.445 per million British thermal units (btu) at 15:19 GMT on Thursday on the New York Mercantile Exchange. The energy commodity has cratered nearly 50% over the last 12 months, and it posted a 12% drop in the last month. Natural gas prices are on track for a weekly loss of about 2%. According to the US Energy Information Administration (EIA), domestic inventories fell by 19 billion cubic feet for the week … [Read More...]

Natural gas futures are cratering at the end of the trading week as the energy commodity is on track for a steep double-digit loss for the week. Natural gas prices are plunging mainly because the supply withdrawal fell short of projections and expectations of warmer-than-average temperatures for much of North America this winter. January natural gas futures tumbled $0.09, or 3.55%, to $2.41 per million British thermal units (btu) at 12:32 GMT on Friday on the Comex division of the New York Mercantile Exchange. Natural gas prices are on track for a large weekly decline of 10.25%, lowering their year-to-date losses to 16%. The energy source is poised for a 10.3% loss in November. According to the US Energy Information Administration (EIA), domestic … [Read More...]

Two signals take effect on the coming week’s open of trading based on the latest Commitments of Traders data from the U.S. Commodity Futures Trading Commission:- cash for the Nasdaq-100 (which has been bullish three months, since March 17)- bullish for the 30-year Treasury bond (which means the bond yield would fall)See my latest signals table for details on trader positioning in these and the other eight markets I trade using the free weekly COT reports. Other signals remain the same as last week.Good luck this week, and to Quebec readers, Joyeuse St-Jean! [Read More...]

Two signals go to cash on next week’s open of trading based on the latest Commitments of Traders data: natural gas and silver.That means eight of my 10 signals based on the free weekly COT reports will be in cash.Only the S&P 500 and the 30-year Treasury bond are bullish.See my latest signals table for detailed numbers on trader positioning in all 10 markets to see if you can figure out what it all means.Good luck this week, and Happy Canada Day to Canadian readers.Also, Happy Fourth of July to U.S. readers later in the week. [Read More...]