Last Updated : 01 December 2012 at 16:30 IST
Very little support from weather, supply factors may tie Nat Gas to range
Source :Barclays research
In the near term, the December weather forecast is currently showing 3% warmer-than-normal heating degree days, while production has not shown any signs of declines. At the same time, more nuclear generation is likely to return in December.
China Purchasing Managers’ Index (PMI) for May has retreated into territory of contr...
Johnson Matthey noted in its Platinum 2013 review that there was surge in buying from jewe.. 
Mark Thoma is a macroeconomist and time-series econometrician at the University of Oregon... 
- Commodity
- |
- Advise
- |
- Entry
- |
- Agency
- Natural Gas
- 232.50
- DANI
- Commodity
- |
- Contract
- |
- Trend
- |
- Pivot Point
- Rubber
- June
- Sideways to Bullish
- 17183
- Cardamom
- June
- Sideways to Bearish
- 748
- Turmeric
- June
- Sideways
- 6048
- Soy Bean
- June
- Bullish
- 3866
- Refined Soy Oil
- June
- Bullish
- 703
- Base metals, Crude Oil may trade lower on weak China PMI data; Gold, Silver to be positive
- Spot gold prices increased by 1.58 percent on the back of weak Dollar Index. Further, weak stock markets increased the demand for precious metal as protection of wealth.
- read more
The USDA forecasts 2013/14 Canada rapeseed production at 14.5 million tons, up 9 percent from las..
By Col. Ajay
As per financial astrology, transit OD Sun in Saturn house is ..
Commodity Online
Natural Gas December contract rolled off the board at $3.70/MMBtu. January contract prices are likely to stay range bound for the time being, with very little support from weather or any incremental fundamental changes in supply.
In the near term, the December weather forecast is currently showing 3% warmer-than-normal heating degree days, while production has not shown any signs of declines. At the same time, more nuclear generation is likely to return in December.
Although higher y/y nuclear outages are likely to lend support to gas burn still, the m/m reduction in nuclear outage is likely to take away more than 1 Bcf/d of demand for gas if we assume gas is the only fuel that benefits from the nuclear shortfall.
The market is expecting a storage withdrawal of about 8 Bcf/d for the week ending 23 November, much lower than the previous two weeks.
For the week in reference, HDDs are 13% lower than the previous week and 10% lower than the same time last year. Power burn remains supported by much higher y/y nuclear outages (1.7 Bcf/d gas equivalent) despite lower y/y coal displacement.
Production remains elevated by about 1 Bcf/d y/y, according to Bentek data.
The UK gas market remains well supported with prices for Jan ‘13 gas at 67 ptherm. Storage issues have largely been offset by expectations of milder weather. We expect prices to just be sensitive to the weather for the coming weeks but range-bound trading around current levels.
