Natural Gas News – February 20, 2018

Natural Gas News – February 20, 2018

Natural Gas Price Fundamental Daily Forecast – Rally Trying to Gain Traction Over $2.661

FX Empire reported: Natural gas prices are moving higher early Tuesday after taking out the high of its six-day range earlier in the session. The price action suggests we could be witnessing a relief rally, mostly due to oversold conditions after the recent steep sell-off. There have been no major chances to the weather forecast, or Thursday’s storage report estimates so we have to conclude that hedge fund profit taking is likely fueling a short-covering rally early in the session. NatGasWeather.com did update its weather forecast for the February 20 to 25 period. It says, “High pressure will strengthen over the southern and eastern U.S. this week with very warm February temperatures that will reach the 60s and 80s. The western and central U.S. will see weather systems with cold and snow. Modest cooling will at times also push into the Midwest/Western Great Lakes. This coming weekend, the warm ridge will continue to dominate the South and East, while still cold and unsettled over the West into the central U.S. Demand over the next week will be moderate to low.” For more on this story visit fxempire.com or click http://bit.ly/2EF97z8

Texas Company Lands $15 Billion Deal to Sell Israeli Natural Gas to Egypt

Dallas News reported: Houston-based Noble Energy created waves in the Middle East a decade ago when it announced the discovery of two large natural gas fields in Israel, a country that has traditionally been energy poor. Now the Texas firm is making a political splash as well. Noble Energy and its partner, Delek Drilling-LP, announced today they have an agreement to supply Egypt with 2.3 trillion cubic feet of natural gas over a decade. The deal adds an “economic dimension to what until now has been a security-focused relationship between former regional rivals,” according to Bloomberg. For more visit dallasnews.com or click http://bit.ly/2EH2HDY

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The information contained herein is derived from sources believed to be reliable; however, this information is not guaranteed as to its accuracy or completeness. Furthermore, no responsibility is assumed for use of this material and no express or implied warranties or guarantees are made. This material and any view or comment expressed herein are provided for informational purposes only and should not be construed in any way as an inducement or recommendation to buy or sell products, commodity futures or options contracts.

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