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On September 6, the Iranian Foreign Ministry issued a statement condemning the United States for its attacks on Iranian oil tankers in the Persian Gulf and the Gulf of Oman. The Iranian Foreign Ministry stated that such attacks are part of the ongoing US military action against Iran, including a maritime blockade and economic warfare, which clearly violate Article 2, Paragraph 4 of the UN Charter and pose a clear threat to international peace and the security of commercial shipping. The statement declared Irans determination to defend its sovereignty and national interests and resist US "state terrorism" and acts of aggression, including attacks on commercial shipping. The Iranian Foreign Ministry warned that the consequences of the USs continued aggressive and interventionist actions in the region should be borne by the US and its allies.September 6 (Xinhua) -- Russian President Vladimir Putin said that Kyiv has called for an expanded ceasefire, but Russia has not yet consulted with Ukraine on the matter. "The Ukrainian authorities have called for a broader three-day ceasefire, but we have never reached an agreement with them on this," Putin said during a meeting with U.S. special envoy Witkov and Trumps son-in-law Jared Kushner.On September 6, Ukrainian President Volodymyr Zelenskyy posted on social media that he had spoken with a U.S. representative that day and decided that Ukraine would cease its attacks on Moscow from that moment until September 7, and hoped that Russia would also cease its attacks on Kyiv during the same period.On September 6th, police in Saxony, Germany, announced on September 5th that 12 explosive devices had been discovered near two high-voltage power lines in the state. All devices have been defused, and no injuries or power outages were reported. Police initially believe the devices may have been used to cause short circuits in the high-voltage power lines. Police are currently investigating whether this discovery is related to several recent incidents of damage to power facilities in the country.On September 6, the Central Command of the Iranian Armed Forces, led by Hatem Anbia, issued a warning that if the United States continues its unsafe behavior, harasses Iranian vessels, and continues its blockade of Iran, the Iranian Armed Forces will launch a more severe attack on US warships in the region, and may expand the scope of the attack.

Daily Fundamental Natural Gas Price Forecast - Tropical Storm Nicole Anticipated to Offset Cold Weather Demand

Alina Haynes

Nov 10, 2022 18:24

 截屏2022-11-08 下午5.39.10_1024x576.png

 

Wednesday's closing price for natural gas futures was lower due to projections for less chilly weather in late November amid persistent volatility. The market reached a one-month high on Monday, but two days later it was hitting a one-week low.

 

In addition to forecasts of milder weather, traders reacted to a severe tropical storm approaching the Southeast. It is anticipated to induce power interruptions and, as a result, reduce demand across a wide region.

 

You should only trade with capital that you can afford to lose while trading derivatives. The trading of derivatives may not be suitable for all investors; thus, you should ensure that you fully comprehend the risks involved and, if necessary, seek independent counsel. Before entering into a transaction with us, a Product Disclosure Statement (PDS) can be received through this website or upon request from our offices and should be reviewed. Raw Spread accounts offer spreads beginning at 0 pips and commissions of $3.50 every 100k traded. Spreads on standard accounts begin at 1 pip with no additional commission fees. CFD index spreads begin at 0.4 points. This information is not intended for inhabitants of any country or jurisdiction where distribution or use would violate local law or regulation.

 

Additionally, traders are preparing for another increase in fat storage on Thursday and the delayed restoration of a crucial export facility.

 

The December natural gas price finished at $5.865, down $0.273 or 4.45%, on Wednesday. The United States Natural Gas Fund ETF (UNG) finished at $19.16, a decrease of $1.04, or -5.15 percent.

 

"Imminent cold fronts and flat output this week at 99 Bcf/d benefited bulls," NatGasWeather reported, "with forecasts Wednesday indicating a significant move toward wintry weather beginning this weekend and extending through the current trading week."

 

On paper, this prognosis looks optimistic, but tropical storm Nicole is interfering. Natural Gas Intelligence (NGI) said that the storm's winds are strong enough to prompt emergency declarations and power outage forecasts and to significantly reduce near-term gas demand through the current trading week.

 

The price of natural gas may have bottomed out at $5.345.00 on October 24, but the present technical picture shows that it may need to create a stronger support base before going upward.

 

It will require a catalyst to establish the support base. Strong heating demand and increased demand from liquefied natural gas (LNG) facilities are two such catalysts.

 

Wednesday, the restoration to service of the Freeport LNG export facility in Texas, originally scheduled for this month, remained uncertain. NGI reported that the Texas LNG export facility had yet to establish the status of required regulatory clearances for reopening after a lengthy outage dating back to a June fire.

 

When it does reopen, Freeport could withdraw approximately 2.0 Bcf/d of domestic natural gas to meet export demand. Samantha Dart, an analyst at Goldman Sachs, stated that if this doesn't occur this month, U.S. demand will be less than anticipated and supply could balloon more in the near future, resulting in an increase in price pressure.

 

With Thursday's inventory report, traders are anticipating another robust build. NGI forecasts a buildup of 68 Bcf. The projection compared to a five-year average of 20 Bcf of production. In the same week of 2021, EIA reported a rise of 15 Bcf.


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