Natural Gas fails to trace firmer Oil price, renews 33-month low near $2.13 – by anilpanchal7 Gas OPEC Oil Commodities RiskAversion
weakness could be linked to concerns surrounding warmer weather in the West, as well as the US Dollar’s latest rebound ahead of the key jobs report for March.
As per the latest readings, China’s Caixin Manufacturing PMI for March drops to 50.0 from 51.6 prior and 51.7 market forecasts. Amid these plays, the Natural Gas price may remain pressured toward the levels marked in the year 2020 surrounding $1.53. However, today’s US ISM Manufacturing PMI and S&P Global Manufacturing PMI for March can offer intraday directions to the commodity prices ahead of Friday’s USUnless crossing a two-month-old horizontal resistance area surrounding $2.40, the Natural Gas price becomes vulnerable to test the April 2020 high of $2.10 and then fall to the $2.00 psychological magnet.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Expert: Oil production cuts could drive up gas prices by 26 cents a gallonThat's in addition to the usual summer increase, expected to average 32 cents a gallon.
Read more »
As oil prices recover, West Texas Intermediate emerges as grade of choice for European oil importersThe U.S. benchmark for the price of oil, is hovering once again in the $75-per-barrel...
Read more »
‘Dungeons & Dragons’ movie rolls a natural 20 to top box office“Dungeons & Dragons: Honor Among Thieves” stole the No. 1 spot at the box office and earned $15.3 million on Friday.
Read more »
USD/CAD retreats from 1.3500 as OPEC’s surprise cut drives oil price, US PMI eyedThe USD/CAD has retreated from 1.3520 after a rebound attempt followed by a gap-down opening from 1.3488 in the early Tokyo session. The Loonie asset
Read more »
Goldman Sachs raises Brent oil price forecasts after OPEC+ output cutsGoldman Sachs (GS) revised up its Brent Oil price forecast for December 2023 by $5 to $95 a barrel, as well as increasing the December 2024 forecast b
Read more »