Natural Gas News – July 9, 2024
Natural Gas News – July 9, 2024
Surprise Technical Bounce as LNG Export Concerns Ease
Natural gas futures rise in early trading as weather forecasts indicate hotter temperatures and a swift recovery in U.S. LNG exports. Hurricane Beryl’s landfall near Texas causes a dip in LNG exports, but recovery is expected soon, driving up natural gas futures. Hot weather across key U.S. regions and rebounding LNG exports contribute to a bullish outlook for natural gas futures. August natural gas futures rose in early trading Monday as weather forecasts indicated hotter temperatures and U.S. LNG exports were projected to recover swiftly following a dip due to Hurricane Beryl. At 14:17 GMT, Natural Gas Futures are trading $2.352, up $0.033 or +1.42%. That’s up from an intraday low of $2.268, Coming off eight consecutive lower sessions, the August Nymex contract reversed its early session weakness, potentially se… For more info go to
https://tinyurl.com/2ekw4k2z
Has The Extreme Bear Market in Natural Gas Come to an End?
Beating Market Expectations, Tesla Sees Investors Believe Again The 40% rebound in Tesla shares has eased concerns about the company’s future, seeing options investors at their most bullish in more than three years, believing there’s still an upside to the carmaker’s valuation. The Tesla rally intensified after the world’s second-largest EV carmaker reported a smaller annual decline in quarterly vehicle deliveries than was initially assumed. According to Bloomberg data, the 3-month call skew gauging the premium of call options over puts, has turned positive again and has been trending around 2.75 points. The past month’s Tesla rally has reportedly lost
short sellers some $3.5 billion, with short interest in the company currently standing at 3.5% of float with a $22 billion notional valu…For more info go to https://tinyurl.com/4cnxfc6j
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