• English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
Ford Motor Company (FN) plans to increase production of Lincoln models in the United States starting in 2030.Iraqi news agency: Iraqi intelligence arrested four people and seized more than 20 domestically produced drones in Baghdad.White House: Trump signed a memorandum authorizing U.S. law enforcement agencies to use cyber tools to combat criminal organizations operating in foreign jurisdictions.Conflict Situation: 1. Iranian Revolutionary Guard Spokesperson: If Iran faces renewed threats, hundreds of thousands of miles of energy transmission lines, thousands of power plants, all US and non-US facilities, and even global infrastructure connected to the internet will be at risk. 2. Iranian Revolutionary Guard Commander Naqdi: Given favorable conditions and orders, we must be able to advance operations into enemy territory. We produce more missiles than we launch every day. Even if this war lasts for years, Irans missiles will continue to be launched until the very last day. 3. Port Authority of Mocha, Yemen: The port is completely shut down due to Houthi attacks. 4. US Central Command: As of August 12th local time, the US military has forced 59 merchant ships to divert, rendered 3 ships immobile, and boarded and inspected 2 ships. Strait of Hormuz: 1. Trump: The US has complete control over the Strait of Hormuz. 2. The Persian Gulf oil spill crisis has resurfaced, and tanker attacks have exacerbated environmental risks in the Strait of Hormuz. 3. The Japanese Prime Minister and the Iranian President discussed easing tensions in the Middle East and the passage through the Strait of Hormuz. 4. Irans Persian Gulf Straits Authority: The Strait of Hormuz remains closed and will not reopen unless Irans conditions are accepted. 5. Iranian Foreign Ministry Spokesperson Baghae: As the country with the longest coastline in the Persian Gulf and the Gulf of Oman, Iran demands that all parties benefiting from shipping through the Strait of Hormuz take responsibility for repairing environmental damage in the relevant waters. Peace Negotiations 1. Yemens Houthi rebels expressed willingness to engage in dialogue with Saudi Arabia. 2. Sources: There are currently no discussions on extending the ceasefire. 3. According to Al Arabiya TV: Pakistani mediators are seeking a 60-day extension of the (US-Iran) ceasefire. 4. Pakistan stated that it will continue to promote direct and indirect diplomatic channels between the US and Iran. Other Matters 1. Iranian Oil Minister: Irans daily natural gas production capacity is expected to recover significantly. 2. Former Mossad Director claims Israeli personnel have repeatedly "surveyed" Iranian nuclear facilities. 3. Iran claims that oil cleanup work is underway off the southern coast of Qeshm. 4. Secretary of Irans Supreme National Security Council: Iran and Pakistan are each others "strategic assets." 5. A supertanker was spotted docking at a key Saudi port for the first time in weeks. 6. Iran: The US Congress should investigate the increase in Trumps assets. 7. Iraqi Prime Minister: September 30 is the deadline for the international coalition to withdraw its troops.Venezuelas central bank: Inflation reached 19.9% in July.

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.


image.png