Further upside on the table for natural gas

Traders increased their open interest positions for the second session in a row on Tuesday, this time by around 18.1K contracts in light of flash prints from CME Group. Volume followed suit and rose by around 160.7K contracts after three consecutive daily drops.

Natural Gas could attempt a move to $3.00/MMBtu

Prices of Natural Gas clinched new YTD peaks near the $2.80 mark per MMBtu on Tuesday. The noticeable advance was in tandem with open interest and volume, all signalling that further upside remains on the cards with the next target at the $3.00 level.

Touchstone Exploration Inc (LON:TXP) is a Canadian-based, international upstream oil and gas company currently active in the Republic of Trinidad and Tobago.

Click to view all articles for the EPIC:
Or click to view the full company profile:
Facebook
Twitter
LinkedIn

More articles like this

Touchstone Exploration

Touchstone adds wells into Ortoire and CO-1 blocks

Touchstone Exploration Inc. has drilled wells into Ortoire and CO-1 blocks onshore Trinidad and Tobago and expects to test wells in Cascadura field later in the year. Cascadura-3ST1 delineation well was spudded on Mar. 4, 2024,

Touchstone Exploration

Natural Gas price surges on supply decline forecast

Natural Gas (XNG/USD) price soars higher on Tuesday after a stellar performance on Monday, trading up nearly 3% for the week. The move comes as Bloomberg forecasts a decline in Gas supply by 4% in the coming weeks

Touchstone Exploration

Natural Gas futures gain on cold weather forecast

Natural gas futures pulled back from early highs, still ending the week’s opening session with a gain as near-term cold weather that could prevent surpluses in natural gas inventories from widening further offered some support. U.S.

Touchstone Exploration

Global LNG demand to grow in 2024

Global liquefied natural gas (LNG) demand will grow in 2024 with top buyer China back in the market and consumption in Europe rising, a TotalEnergies TTEF.PA executive said on Wednesday. “LNG has continued to grow, with China being