European gas pushes higher, recouping YTD losses, on rising supply fears

European natural gas prices jump to their highest levels since January. European gas prices have recouped 30% of their YTD losses on rising supply fears. Russian strikes on Ukrainian energy infrastructure and Middle East tensions have pushed prices higher. Europe does not source gas from the Middle East, but relies on global markets.

Weekly Report: what happened at KOLD last week (0408-0412)?

Brent crude tops $90 on Mideast fears, but IEA sees slower global oil demand growth

Crude oil futures settle higher Friday after touching their highest intraday levels in six months. The IEA sees slower global oil demand growth for 2024. The energy sector ended the week with losses for the full week. U.S. Crude stocks rose sharply and inflation came in hotter than expected.

U.S. natural gas glut to keep prices low this year before rising in 2025, EIA says

U.S. Natural gas futures fall after EIA reports larger than expected injection into storage. Inventories 38% above the five-year average for the week. The EIA expects prices to remain low this year and average $2.20/MMBtu in 2024. Crude oil futures also fall.

U.S. natural gas inventory net change of +24 Bcf for week ended April 5 - EIA

U.S. Natural gas inventory net change of +24 Bcf for week ended April 5 - EIA. Stocks for the week ending April 5, 2024 were 2,283 Bcf vs. 2,259 Bcf in the week ended March 29, 2024. Net change: EIA Weekly Natural Gas Storage Report.

Weekly Report: what happened at KOLD last week (0401-0405)?

Iraq To Resume Oil Exports To Turkey Via Pipeline Shuttered A Decade Ago Amid Kurdish Negotiation Deadlock

Iraq is reviving a dormant pipeline to Turkey. The Kirkuk-Ceyhan pipeline has been inactive for a decade. The pipeline could potentially export 350,000 barrels per day by month's end. The move comes amid stalled negotiations with the Kurdistan Regional Government. Islamic State attacks halted the pipeline's operations in 2014.

Drilling rig count slips to lowest in two months, Baker Hughes says

Energy Drilling rig count slips to lowest in two months, Baker Hughes says. Total active drilling rigs in the U.S. Fell by 1 to 620, its third straight weekly decline. Drilling rigs targeting crude oil rose by 2 to 508. Total oil and gas count is 17% below this time last year.

Analyst Warns Of 'Serious Escalatory Tit-For-Tat Cycle' If Iran Strikes Back, Raising Fears Of 'Wider War' In Middle East

Helima Croft predicts “serious Iranian retaliation” that could lead to a wider conflict in the Middle East. Croft is an analyst at RBC Capital Markets. She says Iran has the potential to repeat its alleged attack on oil tankers in the Strait of Hormuz.

Brent crude tops $90 for first time since October as Middle East tensions spike

Brent crude tops $90 for first time since October as Middle East tensions spike. Front-month Nymex crude closes above $90/bbl for the fifth straight day. U.S. Natural gas futures fall as domestic inventories remain well above five-year average.

U.S. natural gas inventory net change of -37 Bcf for week ended March 29 - EIA

U.S. Natural gas inventory net change of -37 Bcf for week ended March 29 - EIA. Total working gas stocks are 422 Bcf higher than last year and 633 Bcf above the five-year average. Stocks for the week ending March 29, 2024 were 2,259 Bcf.

Biden open to ending LNG export pause in push for Ukraine aid - Reuters

Biden open to ending LNG export pause in push for Ukraine aid - Reuters. Front-month Nymex natural gas for May delivery closed +1.3% to $1.862/MMBtu. Reversing the pause could make it easier for Republicans to support aid package for Ukraine.

Top Performing Leveraged/Inverse ETFs: 03/31/2024

Weekly Report: what happened at KOLD last week (0325-0329)?

Best Inverse/Leveraged ETF Areas of Last Week

Earth's Accelerating Spin: How Melting Poles Impact Natural Gas and Grain Markets

Jim Roemer predicts another warm winter and the collapse in natural gas prices. The melting of polar ice is speeding up the Earth's rotation speed. In the next couple of years, we'll need to remove a second from our clocks for the first time ever. Roemer says this could be helpful to predict summer grain markets and crops.

KOLD: Don't Warm Up To It

ProShares UltraShort Bloomberg Natural Gas ETF is an inverse fund that provides exposure to declining natural gas prices. The bear case for natural gas includes factors such as economic downturns, renewable energy shift, and oversupply issues. KOLD provides inverse exposure to natural gas, a critical energy source worldwide. The fund is not suitable for long-term holding due to volatility decay.

U.S. natural gas inventory net change of -26 Bcf for week ended March 22 - EIA

U.S. Natural gas inventory net change of -26 Bcf for week ended March 22 - EIA. Stocks were 430 Bcf higher than last year at this time and 669 Bcf above the five-year average. Total working gas stocks for the week of March 22, 2024 were 2,296 Bcf.

Berkeley, California, to repeal first U.S. gas ban after settling lawsuit

Berkeley, California, to repeal first U.S. Gas ban after settling lawsuit with the California Restaurant Association. A court ruled the ban violated the federal Energy Policy and Conservation Act. The city of Berkeley has agreed to drop the first-ever natural gas ban following a settlement agreement.

U.S. natgas tumbles to lowest since June 2020 as April contract expires

U.S. Natural gas futures fall to lowest since June 2020 as April contract expires. Front-month Nymex natural gas for April delivery closed -2.5% down. Forecasts for milder weather in the next two weeks and plenty of gas in storage weigh on prices.