Natural Gas prices are increasing again after fresh news from the Australian Wheatstone LNG production site from Chevron. Adding to the lingering union strikes, another 25% production cut at the facility has been announced due to a workers’ fault. It appears it will take a few days for the production cut to be resolved. In the lingering […]

Western Texas Intermediate (WTI), the US crude oil benchmark, is trading around the $88.25 mark so far on Thursday. WTI prices pullback from the 10-month high amid the unexpected surge in US inventories and the renewed USD demand. US crude oil inventories increased by nearly 4M barrels for the week ending September, the first rise […]

Open interest in crude oil futures markets increased for the fifth session in a row on Thursday, now by around 12.6K contracts according to preliminary readings from CME Group. Volume, instead, shrank for the second straight day, this time by around 188.1K contracts. WTI: Resistance emerges around $88.00 WTI prices came under some downside pressure on […]

Natural Gas price is breaking higher as European Gas Futures are leading the charge, rallying up 7%. Traders are in the dark on what the current situation is in Australia at Chevron’s LNG facilities. Union representatives are holding discussions on whether to delay partial strike actions by another day later this Thursday. Any headline around […]

The recent voluntary extension of oil supply cuts by Russia and Saudi Arabia until the end of 2023 has had a notable impact on global oil prices. These two major oil exporters have been instrumental in tightening the oil market, a move that analysts see as bullish for prices. After the announcement, Brent crude futures rose by […]

Open interest in crude oil futures markets resumed the uptrend on Thursday and went up by around 29.1K contracts. In the same line, volume increased for the third straight session, now by around 367.3K contracts. WTI targets the 2023 high near $85.00 WTI prices extended the multi-session rally on Thursday and closed above the $83.00 mark […]

CME Group’s flash data for natural gas futures markets noted traders scaled back their open interest positions by more than 5K contracts on Wednesday, partially reversing the previous daily build. In the same line, volume dropped for the second consecutive session, now by around 25.4K contracts. Natural Gas remains capped by $3.00 Prices of natural gas extended […]