Written Commentary
Source of both tables: Bloomberg
Market Update
- Yet again the market remains steady but rising as US stock inventory data confirmed the API data the previous day. Draws across the board emphasing the impact of hurricane Ida
- Production is being restored, but the damage caused by the hurricane may mean we will not return to previous production levels for some time yet
- The market has also been influenced by the recent rise in natural gas prices, where again supply shortages have caused some problems across the USA and Europe. LNG supplies are also hard to get hold of, as they are being bought up in Asia in order to satisfy their own needs.
- Natural Gas DOE out today will be watched more closely than usual.
Oil Data Release
Natural Gas Exp 76 Prev 52
Macro Data Release
Initial Jobless Claims Exp 323k Prev 310k
Retail Sales Advance MoM Exp -0.7% Prev -1.1%
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Phone: +44 (0)20 7716 8550 Email: energy.desk@admisi.com
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Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2024 ADM Investor Services International Limited.
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