Energy Price Hub

Daily updates 12/07/2023

U.S. Natural Gas Sliding lower as traders position ahead of tomorrow's storage report, which is expected to show a lower-than-normal draw around 10 Bcf. The new prompt Jan-2024 contract is currently 3.1 cents lower at $2.806.
U.S. Weather The 6-10 day forecast is calling for above-normal temperatures to cover much of the western three-fourths of the nation, with a pocket of below-normal temperatures in Florida.
U.S. Dollar Modestly stronger against major rivals after the Fed's Barkin said he was not ready to commit to a particular policy path with so much uncertainty.
Oil Pushing higher even though the EIA reported a 1.6 million barrel increase in oil inventories, a 1.8 mb increase in gasoline stocks, and a 5.2 mb jump in distillates. The Jan-2024 WTI contract is currently $1.03 higher at $77.44.
Equity Markets Climbing higher after the Commerce Department reported the economy grew faster than anticipated during the third quarter.
Geopolitics European Union Energy Commissioner Kadri Simson announced an action plan to overhaul bloc's electric infrastructure to meet new renewable energy demands.

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