Natural Gas 4 Hour Price Update
Updated June 30, 2020 11:07 PM GMT (07:07 PM EST)
Natural Gas came into the current 4 hour candle up 14.78% ($0.22) from the open of the previous 4 hours, marking the 2nd candle in a row an increase has occurred. On a relative basis, the current 4 hour candle were pretty good: Natural Gas bested all 6 of the assets in the energy commodity class 🙂
Natural Gas Daily Price Recap
Natural Gas came into today up 14.78% ($0.22) from the open of the previous day, marking the 2nd day in a row it has gone up. Natural Gas outperformed all 6 assets in the energy commodity asset class since the previous day. Let’s take a look at the daily price chart of Natural Gas.
Natural Gas Technical Analysis
First things first: Natural Gas crossed above its 20 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. For additional context, note that price has gone up 15 out of the past 30 days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Natural Gas:
- From EricHolthaus:
The US power sector is about 1/3 of total US emissions. Arguably, it’s also the easiest part of the US economy to decarbonize. We know how to do it: Stop burning coal & natural gas, replace it with a blend of renewables, nuclear, and battery storage. We could do it by 2025-2030.
- From KendraWrites:
I have had wine so I’m going to say this. A huge push among the climate movement is electrification. Basically electricity is energy source neutral: you can make it from coal or natural gas. Nuclear or solar.If everything goes electric you can clean up the power supply…
- From Corpus_DSA:
Reminders about Nueces County Judge Barbara Canales:
– She has a degree in Petro Engineering
– She’s co-owner of an independent oil & gas exploration & production company active in the development of natural gas reserves in South TX
– She was an officer of the Port Commission
As for a news story related to Natural Gas getting some buzz:
It’s now clear that if the world is to meet the climate targets it promised in Paris, natural gas, like coal, must be deliberately and rapidly phased out….Policymakers must begin consciously encouraging and designing energy systems that run entirely on carbon-free resources. Shutting down coal power plants and opening gas plants in their place will generally reduce emissions, depending on a variety of variables (again including methane emissions)….Allowing gas infrastructure to continue being built on the hope that negative emissions will pan out is madness. In most markets, bulk renewables — utility-scale wind and solar power plants — are the cheapest form of power as measured by the “levelized cost of energy” (LCOE, which seeks to take all costs into account)….Which brings us to … Renewable energy skeptics like to claim that natural gas power plants are required on the grid to balance out variable renewable energy, which comes and goes with the wind and sun. OCI responds with three arguments….First, most natural gas plants being built these days are combined cycle gas turbine (CCGT) plants, which produce the cheapest power….There are more than 400 natural gas plants in the US that were built in or before 1970.