Natural gas prices rise despite a decline in daily U.S. output and increased shipments to Mexico

Nat Gas yesterday increased by 2.95% to settle at 191.8 due to the prediction for hotter-than-normal weather in mid-to-late June, a decline in U.S. daily output, higher exports to Mexico, and low wind energy requiring generators to use more gas to make electricity. The price hike occurred despite maintenance-related decreased gas flows to liquefied natural…

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while gold gave up its gains, most commodities are seeing bullish momentum, and traders are watching for signs of a U.S. Fed rate hike

The commodities market experienced positive momentum the whole week, with the exception of gold, with most commodities posting weekly gains ranging from 1.5% to 3.0%. Due to traders locking in their profits during the recent advance, gold prices gave up all of their weekly gains and ended up slightly lower last week. As traders monitored…

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Natural gas fell on speculation that the need for heating would decline due to nicer weather

A near-record amount of natural gas was produced for the month, which kept prices under pressure. Yesterday, natural gas prices decreased by -3.63% to 172.8 in anticipation that milder weather would lower the need for heating. The United States Energy Information Administration (EIA) predicted that due to milder weather, the country’s power consumption will decrease…

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Core industry improved by 6% in February.

Eight core industries’ combined output increased by 6% in February as compared to 5.9% in the same month last year. It’s interesting to note that the Commerce and Industry Ministry increased the core sector growth estimate for January 2023 from 7.8 to 8.9 percent. An official statement stated that the core industries’ overall growth rate from…

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