The light sweet crude oil prices closed above $ 40 / bbl in the New York market on March 17 for the first time since Dec. 3, 2015, and the natural gas future prices Settled at almost $ 1.94 / MMBtu ITS ie highest level in a month.
Oil futures prices mostly US Have joined since 11 February, When the contract for next month fell to $ 26.21 / bbl, Which was almost the lowest since 13 years.
Analysts say oil prices supported by hopes Have Been That Producers would freeze production levels and overall excess supply would begin to decline. Oil Prices were supported by a weakening Also US dollar.
The dollar index Wall Street Journal, Which tracks the US dollar Against a basket of 16 currencies, was down 1.1% on March 17 to 86.63, lowest level since June ITS 2015.
The dollar fell after US Federal Reserve Officials Suggested on March 16, the Fed is likely to only Increase the benchmark interest rate twice esta year, down from projections of four Earlier Increases.
With gas prices rose high oil prices along in the Mar. 16-17. Platts Bentek issued a report in March on LNG exports from the US and gas supply, observing the domestic market is "awash With Gas" with no Shortages expected.
High levels of gas storage limit any sustained upward pressure on gas prices, Platts Bentek Said, adding That is partly gas demand During the month of Because March has-been warmer than usual.
"Total The demand for gas in the US This year to date is down 7.9 MMcfd from the same period last year. Gas production in the US is up to 1.1 MMcf per day and Reached a record high of 73.8 MMcfd as recently as late February, "Said Platts Bentek. "US storage levels of gas in early March Were 42% higher than the five-year average and 58% higher than the same period last year."
But gas storage withdrawals United States is likely to end soon, Which Could leave gas inventories at a very high level, Platts Said Bentek.
Energy prices
The April crude contract on the New York Mercantile Exchange rose $ 1.74 to $ 40.20 / bbl on 17 March. The May contract rose $ 1.66 to $ 41.66 / bbl.
The NYMEX natural gas contract for April rose Nearly 7 ¢ or be a rounded $ 1.94 / MMbtu. The Henry Hub gas price was $ 1.82 / MMBtu to 8 ¢.
Heating oil for April delivery rose 2 ¢ to a rounded $ 1.25 / gal. The price of Reformulated gasoline stock for oxygenate blending for April Gained 2 ¢ to a rounded estimate of $ 1.44 / gallon on March 17th.
The Brent crude contract for May on London's ICE Gained $ 1.21 to settle at $ 41.54 / bbl. The June contract rose $ 1.20 reaching $ 42.18 / bbl. ICE gasoil contract for April was $ 375.25 / ton, $ 8.25.
The average price of the OPEC basket of 12 crudes was $ 36.36 / bbl.
Oil futures prices mostly US Have joined since 11 February, When the contract for next month fell to $ 26.21 / bbl, Which was almost the lowest since 13 years.
Analysts say oil prices supported by hopes Have Been That Producers would freeze production levels and overall excess supply would begin to decline. Oil Prices were supported by a weakening Also US dollar.
The dollar index Wall Street Journal, Which tracks the US dollar Against a basket of 16 currencies, was down 1.1% on March 17 to 86.63, lowest level since June ITS 2015.
The dollar fell after US Federal Reserve Officials Suggested on March 16, the Fed is likely to only Increase the benchmark interest rate twice esta year, down from projections of four Earlier Increases.
With gas prices rose high oil prices along in the Mar. 16-17. Platts Bentek issued a report in March on LNG exports from the US and gas supply, observing the domestic market is "awash With Gas" with no Shortages expected.
High levels of gas storage limit any sustained upward pressure on gas prices, Platts Bentek Said, adding That is partly gas demand During the month of Because March has-been warmer than usual.
"Total The demand for gas in the US This year to date is down 7.9 MMcfd from the same period last year. Gas production in the US is up to 1.1 MMcf per day and Reached a record high of 73.8 MMcfd as recently as late February, "Said Platts Bentek. "US storage levels of gas in early March Were 42% higher than the five-year average and 58% higher than the same period last year."
But gas storage withdrawals United States is likely to end soon, Which Could leave gas inventories at a very high level, Platts Said Bentek.
Energy prices
The April crude contract on the New York Mercantile Exchange rose $ 1.74 to $ 40.20 / bbl on 17 March. The May contract rose $ 1.66 to $ 41.66 / bbl.
The NYMEX natural gas contract for April rose Nearly 7 ¢ or be a rounded $ 1.94 / MMbtu. The Henry Hub gas price was $ 1.82 / MMBtu to 8 ¢.
Heating oil for April delivery rose 2 ¢ to a rounded $ 1.25 / gal. The price of Reformulated gasoline stock for oxygenate blending for April Gained 2 ¢ to a rounded estimate of $ 1.44 / gallon on March 17th.
The Brent crude contract for May on London's ICE Gained $ 1.21 to settle at $ 41.54 / bbl. The June contract rose $ 1.20 reaching $ 42.18 / bbl. ICE gasoil contract for April was $ 375.25 / ton, $ 8.25.
The average price of the OPEC basket of 12 crudes was $ 36.36 / bbl.
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