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Natural gas futures (NG1:COM) rose slightly on Monday after two consecutive weeks of declines, and fell nearly 8% last week on milder weather forecasts and expectations of lower heating demand.But global gas prices have risen as competition for cleaner-burning fossil fuels intensifies. and demand in Asia. „Asian buyers remain aggressive as they look to take advantage of the past month's drop in prices,“ ANZ reported. This is because storms can disrupt supplies.
“Two storms off the coast of northern Australia have the potential to develop into cyclones, resulting in the partial or complete closure of LNG export facilities including Gorgon, Wheatstone and Prelude.Corpus Christi LNG exports” „The fall of the device is also causing disruption to U.S. supplies,'' the brokerage firm said.
meanwhile, european natural gas futures It soared about 8% on Monday to close to 29 euros/MWh, marking its fourth consecutive session of gains and reaching its highest level since early February due to growing supply concerns, according to the report. Repairs to the Freeport LNG terminal in Texas have reduced shipping volume, and work is expected to continue into April.
JPM Commodities Research predicts 2025 Henry Hub prices based on midstream issues that could prevent significant volumes from reaching the Gulf Coast from Haynesville when this LNG facility comes online. We remain bullish,“ he said.
Meanwhile, crude oil prices expanded from the previous week, supported by stronger-than-expected crude oil prices. Economic data from China and continued drone attacks Russian energy plantsincreasing supply risk.
Vandana Hari, founder of oil market analysis provider Vanda Insights, told Reuters: „Last week's strikes at Russian refineries added a risk premium of $2-3 per barrel to crude oil. „This risk premium remains in place this week and as more attacks begin over the weekend.“ .
The attacks shut down about 7% of Russia's refining capacity in the first quarter, according to a Reuters analysis. The refining complex processes a variety of crude oils and exports them to several markets, including China and India.
Turning to central banks, investors are focused on the Federal Reserve's results over the two days ending Wednesday, with many wondering what tone Chairman Jerome Powell will use in his post-meeting press conference. It depends on how you approach it. Policymakers from Japan, the UK, Switzerland, Norway, Australia, Indonesia, Taiwan, Turkey, Brazil and Mexico will also meet this week.
Among metals, copper prices were mixed on Monday, with London contracts easing but Shanghai prices reaching new highs. Best eversupply is expected to be tight.
Retail sales increase in consumer powerhouse China The total for January-February 2024 increased by 5.5% year-on-year, exceeding the market consensus of 5.2%, and industrial production increased by 7.0% year-on-year in January-February.
Elsewhere, the Biden administration $2.26 billion loan This is to help Lithium Americas develop the nation's largest lithium deposit in Nevada.
Notable stocks: American Vanguard (AVD) +22%, Lithium America (rack) +8%, Sigma Lithium (SGML) -9%, Life Zone Metals (LZM) -7%, Silvamo (SLVM) -7%, Euronavi NV (EUR) -8%.
Recent commodity price movements and an overview of some ETFs
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energy
metal
Agriculture
Commodity ETF
Gold ETF:
Other metal ETFs:
Oil ETF:
Agriculture ETF: