foo fighter
Forumer storico
non è che per forza lo deve fare
ETC Natural Gas
- Creatore Discussione NEO_99
- Data di Inizio
maxgas
SonLoss
hai qualche news sul Gas o incastrano altri pollastri da spennare le prox sedute?
foo fighter
Forumer storico
secondo me si preparano per un ribasso domani, prima o dopo i dati. Poi però il mensile deve partire per cui una fase rialzista deve esserci. Anche perchè siamo su un intermedio, per ora, rialzista (anche se abbastanza flat) ed è passato solo un primo mese
NEO_99
Forumer storico
Front month still above January's 10-year low
* Mild weather on tap for consuming regions
* U.S. crude futures little changed to higher early
* Coming Up: EIA oil data Wednesday, EIA gas data Thursday
(Adds cash prices, byline, updates throughout)
By Eileen Houlihan
NEW YORK, Feb 29 (Reuters) - U.S. natural gas futures
rose slightly early Wednesday, with the front month contract up
about 2 cents amid a large number of nuclear power plant outages
despite mild weather and bloated inventories.
Front month April natural gas futures on the New York
Mercantile Exchange were at $2.534 per million British
thermal units in early U.S. activity, up 1.5 cents.
The front month fell in late January to $2.231, a contract
low and the cheapest price for a front month since March 2002,
forcing some producers to announce production cuts.
In the cash market, gas bound for the NYMEX delivery point
Henry Hub NG-W-HH in Louisiana was heard early near $2.44 on
volume near 661 million cubic feet, flat to Tuesday's average.
Early Hub cash deals were also done at about an 11-cent
disocunt to the front month contract, little changed from deals
done late Tuesday at about a 13-cent discount.
But gas on the Transco pipeline at the New York City gate
NG-NYCZ6 was heard early near $2.66 on volume near 131 mmcf,
down 3 cents from Tuesday's average of $2.69.
STORAGE STILL A PROBLEM FOR BULLS
Last week's gas storage report from the U.S. Energy
Information Administration showed total domestic inventories
fell by 166 billion cubic feet to 2.595 trillion cubic feet -
still at record highs for this time of year, and 753 bcf, or 41
percent, above last year and 744 bcf, or 40 percent, above the
five-year average level.
(Graphic: link.reuters.com/mup44s)
Despite a bigger-than-expected draw last week and some price
gains this month, one of the mildest winters on record has
slowed storage draws by about 510 bcf, or 29 percent, and left a
huge cushion in inventories that could cap any more gains this
year.
Last winter at this time, cold weather had forced storage
owners to pull more than 2 tcf from inventory to help meet the
surge in heating demand, but this season, only about 1.3 tcf of
storage gas has been burned up, a 37 percent drop.
With extended forecasts still not showing any extreme cold
on the horizon and winter winding down, traders said the huge
surplus could pressure prices in late March if contractual
obligations force utilities to cycle gas out of inventory to
meet seasonal turnover requirements.
Early withdrawal estimates for this week's EIA report range
from 82 bcf to 105 bcf, with most in the 90 bcf area versus last
year's drop of 85 bcf and the five-year average decline for that
week of 118 bcf.
A Reuters end-winter poll issued recently showed analysts
expect stocks to end the heating season at an all-time high of
2.215 tcf, 43 percent above average and well above the previous
record of 2.148 tcf set in 1983.
The inventory glut could also spell trouble for prices late
in the summer stock-building season if inventory owners run out
of room to store gas, forcing more supply into the market.
Estimates for U.S. working gas storage capacity range from
4.1 tcf to 4.4 tcf, a level that could be tested if storage
builds from April through October match last year's 2.2 tcf.
MORE FUNDAMENTALS
Temperatures in key gas-consuming cities were seen in the
low-40s to the mid-50s Fahrenheit in New York and mostly the 40s
F in Chicago for the next several days, according to the Weather
Channel's weather.com.
The National Weather Service six- to 10-day outlook issued
on Tuesday called for above-normal readings for about the
eastern two-thirds of the nation, and normal or below-normal
readings in the West.
About 18,300 megawatts, or 18 percent, of the nation's
nuclear capacity was offline on Wednesday, up from about 10,000
MW out at this time last year and a five-year average outage
rate of about 11,500 MW for this week.
Baker Hughes data last week showed the gas-directed rig
count fell by six to 710, its lowest mark since October 2009. It
was the seventh straight weekly decline and stirred more talk
that low prices were finally forcing drillers to slow dry gas
operations.
(Graphic: r.reuters.com/dyb62s)
But many traders remain skeptical of announced production
cuts, noting the planned reductions so far were not enough to
tighten a market oversupplied by as much as 3 bcf per day, or
more than 4 percent.
Analysts said the recent slowdown in drilling has yet to be
reflected in pipeline flows. They noted that producers have
shifted spending to higher-value oil and gas liquids plays which
still produce plenty of associated gas that ends up in the
market after processing.
Most analysts, noting it will be difficult to balance the
gas market without serious production cuts, do not expect any
major slowdown in gas output until late this year.
foo fighter
Forumer storico
non so se avete visto, ma il forecast delle scorte su forexfactory è -89B
a più tardi
ciao
a più tardi
ciao
foo fighter
Forumer storico
la guerrina per sistemare un po i conti
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