Natural Gas 4 Hour Price Update
Updated September 15, 2020 12:50 AM GMT (08:50 PM EST)
Natural Gas is down 2.32% ($0.05) since the previous 4 hours, marking the 2nd straight candle a decline has happened. On a relative basis, Natural Gas was the worst performer out of all 6 of the assets in the energy commodity asset class the current 4 hour candle.
Natural Gas Daily Price Recap
The choppiness in the recent daily price action of Natural Gas continues; to start today, it came in at a price of 2.298 US dollars, up 1.28% ($0.03) since the day prior. Relative to other instruments in the energy commodity asset class, Natural Gas ranked 2nd since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Natural Gas.
Natural Gas Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 7 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Natural Gas for the past day were:
- From teju617:
I request citizens of Andhra Pradesh that you elected the puverty cheifminister since 17 months he is hitting public with raising prices now he increased natural gas ⛽️ hitting middle class and auto rickshaw people now the binami of Telugu states meil gas filling station
- From ANI:
Under Pradhan Mantri Ujjwala Yojana (PMUY), the target of 8 crore new LPG connections has been achieved & Oil Marketing Companies (OMCs) issued 1306.87 lakh LPG refills to PMUY beneficiaries under Pradhan Mantri Garib Kalyan Package till Aug’20: Petroleum & Natural Gas Ministry
- From curryputtar:
Jagan gives 10,000 rs to auto drivers under YSR Vahana Mitra scheme. Yesterday he hiked vat on natural gas from 14% to 24%. that will effect autos using CNG gasOka chetto ichi, inko chetto puchukovatam ante ideyneemo
As for a news story related to Natural Gas getting some buzz:
Karanfil noted that they had gathered 35 Turkish firms together with officials from the Libyan Council for Oil and Gas, with an agreement looking to be signed in the near future….“We hope that in the future, Turkish companies will have the opportunity to extract and process gas and oil from Libya.” Turkey has on many occasions expressed its ambitions for lasting cooperation with the North African nation in many areas, including on oil and gas explorations, particularly after the two countries in late 2019 signed a pact on maritime borders in the Eastern Mediterranean….The cost of extracting gas and oil in Libya is more convenient than other countries in the region, Karanfil said, expressing the expectations that Turkish companies would take steps in the name of extracting oil and natural gas in the country in the future.
“Energy Ellen” is the collective pseudonym used by several writers who contribute to our energy commentary who are passionate about the intersection of energy, economics, and investing. Follow Energy Ellen on social media: Instagram