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On June 12, the commander of the Hatem Anbia Central Headquarters of the Iranian Armed Forces stated that the United States, while talking about agreements and negotiations, is simultaneously taking malicious actions with ulterior motives. This blatant contradiction between US words and deeds is the root cause of instability in the region, jeopardizing trade security, the international economy, and the security of all nations, especially the Strait of Hormuz. We warn that if the United States attempts to attack Iran again, it will face a much harsher response than before, the conflict will become more widespread and escalate, and the region will descend into insecurity. In light of the recent US threats to strike Iranian oil infrastructure, we hereby declare: oil and gas exports are either open to everyone or closed to everyone.Spokesperson for the UN Secretary-General: UN Secretary-General António Guterres is deeply concerned about the escalating situation in the Middle East, including the US strikes against Iran and Irans retaliatory strikes.June 12 – Siemens Energy, one of the worlds three largest gas turbine manufacturers, stated that competition in Europe for power supplies for data centers and electrification projects is becoming so fierce that customers are now willing to pay fees to secure a place in the gas turbine production queue. CEO Christian Bruch said, "Demand is now so high that European customers are willing to pay reservation fees." This practice first appeared in the US in recent years when technology companies raced to lock in power generation capacity for energy-intensive data centers, and has since expanded to Europe and the Middle East. Due to the long wait times for European data centers to connect to the grid, some are considering building their own power generation facilities to get them operational faster. Karim Amin, head of Siemens Energys Gas Services division, said that customers seeking to reserve approximately six months of manufacturing time typically pay 10% to 15% of the purchase price of a turbine. Since gas turbine manufacturers capacity is largely booked until the end of this decade, this type of payment has become a way for buyers with urgent project needs to secure their place in the queue. Siemens Energys conversion rate exceeds 90%, meaning that most reservations eventually translate into contracts.A spokesman for Irans Islamic Revolutionary Guard Corps said: "If the United States wants to repeat its past failures, it will regret it."New York Fed: U.S. household net worth increased by $113.08 billion in the first quarter.

There Is No Longer an Overbought Condition for Natural Gas Prices, Which has Dropped Sharply

Drake Hampton

Apr 20, 2022 10:00

After hitting a 13-year high on Monday, natural gas prices plunged 8.5% on Tuesday. LNG demand remains strong, and natural gas arrivals at LNG terminals continue to climb. Natural gas demand is likely to rise in the coming two weeks due to colder-than-normal weather.

 

This week's LNG exports from the United States are down from the week before by four ships. Between April 7 and April 13, twenty LNG ships with a combined capacity of 75 Bcf left the United States, according to the EIA. Lower LNG exports this week were caused by bad weather in the Gulf of Mexico, which included high winds and waves of up to 7 feet and scheduled maintenance.

Technical Analysis

On Tuesday, the price of natural gas dropped. Support is expected near the 10-day moving average at 6.72. The 13.68 high from July 2008 serves as a target for resistance.

 

As the fast stochastic generated a crossover sell signal, the short-term momentum has reversed and become negative. Both the quick stochastic and the relative strength index have shown a decrease in price since reaching overbought levels.

 

In the medium term, the momentum has shifted in favor of the bulls. MACD histogram prints in the green zone with an upward sloping trajectory, suggesting that natural gas prices are on the rise beneath the surface.

 

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