Energy Market Data and Market Trading Tips from Technical Analysts
U. S. crude oil futures ended down for a second straight session on Monday as the dollar strengthened and as concerns about economic recovery persisted after data showed that manufacturing slumped further in the state of New York.
NYMEX Nat gas futures ended sharply higher on Monday, backed by a strong rebound in cash prices and technical buying after an early attempt to move lower stalled despite a sharp sell-off in crude and concerns about bearish fundamentals.
The industry group American Petroleum Institute will release its inventory report on Tuesday. The Energy Information Administration will release its own data on Wednesday.
AccuWeather. com expects temperatures in the Northeast and Midwest, key gas consuming regions, to average below normal for the next few days, with highs mostly in the
70s Fahrenheit area not likely to generate much air conditioning demand.
Crude oil futures tumbled following the stronger dollar. We recommend selling crude oil at rise. Natural gas bucked the bearish trend and moved up by more than 7%. Outlook for natural gas remains bullish as sharp fall in natural gas rigs counts in U. S. has resulted in sharp upside in natural gas futures and we believe this is just a start of much awaited bull run.