Energy Price Hub

Daily updates 02/02/2023

U.S. Natural Gas Inching higher after the EIA reported a slightly higher-than-expected 151 Bcf draw from storage even though the surplus compared to the 5-year average widened to 163 Bcf. The Mar-2023 contract is currently 6.2 cents higher at $2.530.
U.S. Weather The 6-10 day forecast is calling for above-normal temperatures to spread throughout much of the eastern half of the nation and Upper Mountain West, with below-normal temperatures in part of the West.
U.S. Dollar Carving back some of yesterday's losses after the Fed’s 0.25% rate increase to 4.75% kept the key benchmark above major rivals.
Oil Moderately higher after OPEC and their producing allies decided to keep output quotas unchanged based on the prospect of rising Chinese demand. The Mar-2023 WTI contract is currently 29 cents higher at $76.70.
Equity Markets Trading in a mixed fashion ahead of a batch of tech sector corporate earnings released after the bell today.
Geopolitics The EU is set to roll out plans to make it easier for governments to give out tax breaks to clean energy companies to compete with the U.S. Inflation Reduction Act.

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