This morning’s price action in natural gas dropped over 4% despite last week’s draw of 228 billion cubic feet against analysts’ expectations of 222 billion cubic feet and 144 cubic feet the prior year.
China is becoming one the biggest energy consumers, giving the U.S. a run for its money, or should I say energy.
…Maybe if you believed that cold weather was a structural change in the Nat Gas market.
Russia’s state-owned natural gas giant Gazprom (OGZPY, quote) will take over natural gas trading and storage businesses it jointly owns with the world’s largest chemical company, Germany’s BASF (BASFY, quote), as part of an asset swap meant to avoid further winter supply disruptions to Europe that have occurred in recent years.
Brazilian oil and natural gas company Petroleo Brasileiro (PBR, quote) (a.k.a. Petrobras) has rebounded recently, up 8.12% for the week and 17.35% for the month. Over the same time periods, the main exchange traded fund for oil, United States Oil (USO, quote), has risen by 2.29% and 8.23%, respectively.