Natural Gas and Crude Oil
from ChartWorks:: published by Institutional Advisors
This week’s natural gas inventory drawdown of 11 Bcf keeps the inventory level of 3,407 Bcf at all time highs for the first week of December. Without a severe cold snap, there is a likelihood of spot prices moving to $5.50 or lower in January.
Arrows identify when inventories were at multi-year highs in the first week of September and again at the peak in November
Working Gas in Underground Storage
The cumulative decline is running well below the pace that helped create spike highs in the price in 1995, 96, 97, 00 and 02. (Longer-term, the models following the first quarter of 2007 look exceptionally bullish with a new 21-month high being the norm by the end of next year).
The crude oil market is now three weeks into what has been expected to become a five to eight week rally. Overhead resistance continues to be anticipated to start at $67.
The opinions in this report are solely those of the author. The information herein was obtained from various sources; however we do not guarantee its accuracy or completeness. This research report is prepared for general circulation and is circulated for general information only. It does not have regard to the specific investment objectives, financial situation and the particular needs of any specific person who may receive this report. Investors should seek financial advice regarding the appropriateness of investing in any securities or investment strategies discussed or recommended in this report and should understand that statements regarding future prospects may not be realized. Investors should note that income from such securities, if any, may fluctuate and that each security’s price or value may rise or fall. Accordingly, investors may receive back less than originally invested. Past performance is not necessarily a guide to future performance.
|Home :: Archives :: Contact||
March 24th, 2019
© 2019 321energy.com