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The January 2020 U.S. natural gas futures contract expired at an all-time low in late December 2019. Crude oil rose for a fourth straight week, supported by larger-than-expected U.S. inventory draws and Middle East supply concerns.
WTI traded near $61 per barrel.
Gas remained weak on ample supply while crude strength was driven by inventory draws and geopolitical risk, so the two markets diverged. Feed buyers should note that higher crude can lift diesel and freight costs even as gas stays cheap.
focusonfracking.blogspot.comPosted by
rjsDec 29, 2019Not enough comparable past events yet for a historical read.
Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
