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According to US financial media Semafor, the US artificial intelligence safety bill may be submitted as early as next week.On September 10th, according to futures market reports, crude oil prices generally trended upward this week, with the weekly average price rising compared to the previous week. According to JLC Network Technologys calculations, as of the ninth working day on September 10th, the average price of benchmark crude oil was $92.87 per barrel, with a change rate of 5.89%, indicating that domestic gasoline and diesel retail prices should increase by 330 yuan per ton. Based on the "ten working days" principle, the adjustment window for this round of prices is at 24:00 on September 11th. Affected by the escalating tensions between the US and Iran, the expected increase in retail prices may reach around 400 yuan per ton. In summary, if the conflict further escalates, a continued surge in international oil prices next week cannot be ruled out, leading to an increase in domestic refined oil retail prices, providing positive support for the oil market.A spokesperson for the European Commission stated that the EUs cybersecurity agency, ENISA, has been granted access to OpenAIs latest model, GPT-6-ASTRA.On September 10th, a spokesperson for the Pakistani Ministry of Foreign Affairs stated at a press conference that some Pakistani armed forces personnel are currently in Saudi Arabia for training and related logistical work. This is the first official confirmation of this information from Pakistan. The spokesperson stated that Pakistan and Saudi Arabia have a long-standing bilateral relationship and defense cooperation. According to the Mecca Mutual Defence Agreement, both sides and relevant countries will further advance relevant defense cooperation arrangements. The spokesperson noted that the Mecca Mutual Defence Agreement is a framework agreement, and specific procedures, mechanisms, and cooperation structures still need to be developed within its framework.The UK 2-year yield rose 2 basis points to 4.72%, the highest level since November 2023.

Natural Gas Price Prediction - Prices to Rise on EIA's Positive Prognosis

Alina Haynes

May 12, 2022 11:06

Natural gas prices rose substantially for the second consecutive trading session on Wednesday. The National Oceanic and Atmospheric Administration predicts that for the next 6 to 10 days, the majority of the South will see weather that is warmer than average. In the upcoming week, it is anticipated that inventories would increase.

 

The most recent week is anticipated to see a 66 Bcf increase in natural gas stockpiles, according to survey provider Estimize. The release follows the addition of 55 Bcf to stockpiles. In its short-term energy forecast, the EIA projected that natural gas prices will average $8.4 per MMBtu in 2022. 

Technical Evaluation

Wednesday saw a significant increase in natural gas prices, the second straight day of gains. Prices reclaimed resistance, which is presently providing support close to the 20-day moving average at 7.32. Resistance is anticipated near the May highs, at $8.99.

 

As the fast stochastic generated a crossing buy signal, near-term momentum has turned positive.

 

Negative momentum has developed in the medium term. The MACD (moving average convergence divergence) signaled a sell crossover. This occurs when the MACD line (12-day moving average minus 26-day moving average) crosses beneath the MACD signal line (the 9-day moving average of the MACD line).

 

The MACD histogram is in negative territory and sloping downward, indicating that prices will decline.


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