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Crude oil futures continued to rise, with the main contract for low-sulfur fuel oil (LU) up nearly 6%, the main contract for liquefied petroleum gas (LPG) up over 5%, and the main contracts for asphalt, fuel oil, and SC crude oil up over 3%.On April 24, Minister of Commerce Wang Wentao met with Airbus CEO John Faury on April 23. The two sides exchanged views on Airbuss operations and development in China, as well as China-EU economic and trade relations. Wang Wentao emphasized that since the beginning of this year, leaders of several EU countries have visited China, yielding fruitful practical results and demonstrating the resilience and vitality of China-EU economic and trade relations. China is willing to strengthen trade and investment cooperation with the EU and promote the stable and healthy development of China-EU economic and trade relations. However, the EUs recent tightening of trade restrictions on China has damaged the confidence of Chinese companies in investing in Europe and seriously affected normal China-EU economic and trade cooperation. He hoped that Airbus would play a positive role in encouraging the EU to work with China to properly resolve differences through dialogue and consultation.According to Futures News on April 24, as of 09:30 Beijing time, WTI crude oil futures rose 1.38%, while US natural gas futures fell 1.09%.The yield on Japans 40-year government bonds rose 3.5 basis points to 3.860%.The Peoples Bank of China announced today that it conducted a 5 billion yuan 7-day reverse repurchase operation, with a bid amount of 5 billion yuan and a winning bid amount of 5 billion yuan. The operation rate was 1.40%, unchanged from the previous rate.

Natural Gas Price Forecast - Prices increased as a result of slower production growth

Daniel Rogers

May 26, 2022 09:48

After four consecutive trading sessions of increases, natural gas prices reversed course on Wednesday.

 

The National Oceanic and Atmospheric Administration predicts that the weather will be warmer than average in the eastern United States for the next 6 to 10 days and 8 to 14 days. As the temperature rises and cooling demand grows, prices climb.

 

According to the LNG export tracker, LNG exports increased to 13.39 on Wednesday after decreasing the day before. However, the natural gas supply in the United States has continued to fall. This circumstance has prompted a price increase. Working natural gas in storage hovers around the minimal amount for the next five years.

Technical Evaluation

Wed., natural gas prices soared past $9 before settling at $8.9, as dwindling stockpiles pushed prices higher. Near the 10-day moving average of 8.29 is viewed as support.

 

Near the May 9 highs of 8.996, there is resistance. As a result of the crossing sell signal given by the fast stochastic, the short-term momentum went negative.

 

As the MACD signaled a buy crossing, medium-term momentum became positive. The MACD (moving average convergence divergence) histogram displays a positive value and an ascending trend, indicating increasing trade activity.

 

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