EUR/USD 1.16049
0.294%
Gold 4355.19
3.433%
Oil 79.268
-4.359%
USD/JPY 160.145
-0.034%
GBP/USD 1.34362
0.192%
GBP/JPY 215.179
0.157%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
The UK Maritime Trade Operations Office has received reports of an incident 111 nautical miles southeast of Aden, Yemen, where an oil tanker reported that a small boat approached and fired on it.June 15th - XTBs Kathleen Brooks stated in a report that the US-Iran peace agreement aimed at ending the Middle East conflict and reopening the Strait of Hormuz is putting downward pressure on oil prices and easing inflation concerns. This development comes ahead of Thursdays Bank of England interest rate decision, with investors widely expecting the benchmark rate to remain unchanged at 3.75%. The market may focus on voting divisions and the Bank of Englands communication for clues about the future direction of the interest rate decision. Data from the London Stock Exchange Group shows that the market has already fully priced in the expectation of a 25 basis point rate hike by the Bank of England in December.June 15th - Tungsten hexafluoride (THF) is a key deposition material in the manufacture of memory chips and advanced logic chips, and is also a popular product in the current surge in demand for electronic specialty gases. Affected by factors such as the withdrawal of some overseas production capacity and the continued expansion of downstream memory chip production, the supply-demand gap has widened, directly driving product prices into an upward trend. Analysts stated, "Taking THF with a significant market price increase as an example, the average monthly price of 5N grade THF in June is expected to reach 1760 yuan/kg, a year-on-year increase of 236%. The surge in demand from memory chips is the core supporting factor." The head of a specialty gas production company in Shanghai stated that helium demand has recently surged, and even with the factory operating on double shifts, supply still cannot meet demand. The head explained, "The semiconductor industry has a very high demand for helium. Many customers are asking, and now the price changes daily. Its possible that todays price will be unavailable tomorrow."June 15th - As the artificial intelligence industry continues to boom, demand for AI chips and high-end memory chips is surging. The production of these chips relies heavily on a special consumable – electronic specialty gases. Electronic specialty gases are electronic-grade gases with a purity exceeding 99.99%, core materials in the field of electronic chemicals, and often referred to as the lifeblood of the semiconductor industry. Driven by strong downstream demand, many core products in the electronic specialty gas market are currently in short supply. Executives from several specialty gas manufacturers stated that their order backlogs have increased significantly, and production lines are operating at full capacity. These executives explained that many of these products ultimately end up in semiconductor wafer foundries, and because some electronic specialty gases are flammable, explosive, and highly hazardous chemicals, customers typically maintain zero inventory. According to these executives, the demand for electronic specialty gases from semiconductor wafer manufacturers has exploded this year, pushing their delivery schedules to near full capacity.According to AXIOS: U.S. Democratic Senator Warren has requested information regarding a private equity deal involving data centers.

Natural Gas Prices Fall After Reaching New 13-Year Highs

Drake Hampton

Apr 13, 2022 10:14

Tips

  • Natural gas prices reached a new intraday high of 13 years.

  • Arrivals of natural gas at LNG terminals decreased.

  • The weather in the mid-West is forecast to be colder than typical.

 

Natural gas prices reached a 13-year high before whipsawing and settling down for the session. While demand continues to be strong, natural gas arrivals at LNG facilities decreased. Natural Gas Intelligence reports that arrivals were the lowest in two weeks. A snowstorm will dump considerable amounts of snow on the higher plains.

 

The weather in the mid-West is predicted to remain significantly colder than average over the next 6-10 days, then moderate slightly over the next 8-14 days, although still significantly colder than average. This scenario will result in an increase in the need for heating.

Technical Evaluation

Natural gas prices set a new intraday high, surpassing the previous 13-year record, but then whippedsawed as speculators took profits. Near the July 2008 highs of 13.68, the target resistance is visible. At 6.07, support is located near the 10-day moving average.

 

Short-term momentum has shifted negative as a crossing sell signal was triggered by the fast stochastic. Prices are excessively high. The fast stochastic is printing a reading of 85, which is above the overbought threshold of 80. Additionally, the RSI is reading 78, exceeding the overbought trigger threshold of 70.

 

The medium-term trend has shifted to the positive. The MACD (moving average convergence divergence) histogram is in positive territory with an upward sloping trend, indicating that the underlying price of natural gas is accelerating.

 

image.png 

Suggestion