Power And Gas Traders

Fundamental Analysis EUR Concern about Greece "is a big weight on the market and makes things uncertain" - Emmanuel Soupre, a fund manager at Neuflize Private Assets European stocks tumbled on Wednesday, after rising by the most in a month on Tuesday, on speculation Greece may exit the euro zone. USD "It’s very clear now that the housing market has turned a corner" - Richard DeKaser, deputy chief economist at Parthenon Group LLC Sales of new U.S. homes rose by more than expected in April, Commerce Department data showed on Wednesday. Purchases increased to an annual rate of 343,000, up by 3.3 per cent from a revised 332,000 in March. GBP " employment remains fragile and wage growth weak" - Ross Walker, chief U.K. economist at Royal Bank of Scotland Group U.K. retails sales declined by ...

(Reuters) - Natural gas futures ended higher on Wednesday for a second straight day, as tighter supply-demand fundamentals and forecasts for warm weather offset early selling on the milder outlook for late next week. Gas prices, which rallied 9 percent last week, are nearly flat so far this week, with investors cautious about prices near 3-1/2 month highs ahead of a three-day weekend. NYMEX floor trading will be closed on Monday for the U.S. Memorial Day holiday. Since posting a 10-year low of $1.90 per million British thermal units in April, nearby futures are up nearly 44 percent amid signs that record production was finally slowing while demand was picking up as more electric utilities switch from coal to cheaper gas for power generation. Technical traders had been expecting Monday' ...

(Reuters) - Brent crude held steady near $109 on Tuesday, awaiting the results of two meetings to tackle Europe's debt crisis and Iran's nuclear programme, which could determine the future of global oil demand and supply. EU leaders may introduce new measures to tackle the euro zone's worsening debt crisis during Wednesday's informal meeting to seek solutions to the Greek political crisis mired in conflict over debt and austerity policies. Major powers will also meet Iran on Wednesday to discuss its nuclear programme, but tensions with the West remain high as the U.S. Senate unanimously approved a package of new economic sanctions on Iran's oil sector on Monday. Brent crude edged up 7 cents to $108.88 a barrel by 0448 GMT, but is still about $20 down from March's high. U.S. crude for ...

Oil prices fell on Friday in tug-of-war trading, posting a 2012 low and a third straight weekly loss as debt problems in Greece and Spain kept concerns about the euro zone economy in focus. Crude futures felt pressure from news that European officials were working on contingency plans in case Greece exits the euro zone and from a ratings downgrade of 16 Spanish banks by Moody's Investors Service. Helping push oil lower early was data showing Chinese home prices in April fell for a second month in a row from year-ago levels. "The problems in Europe, highlighted by the political instability in Greece, remain as the primary factor for today's slide in oil prices," said Kyle Cooper, managing partner at IAF Advisors in Houston. "There is also a factual realization that the Chinese economy ...

Brent oil edged higher on Tuesday, snapping three days of declines and pushing its premium to slumping U.S. crude back above $18 a barrel, as supportive German economic growth helped counter political turmoil in Greece. Anticipation that inventory reports will show U.S. crude stocks rose an eighth straight time last week, adding to record stockpiles at Cushing, Oklahoma, helped pressure U.S. crude and increase its price deficit to Brent, brokers and traders said. The approach of the June Brent contract's expiration on Wednesday also helped raise the premium to U.S. June crude to $18.26 a barrel based on settlements. Brent's premium to U.S. crude pushed above $18 for the first time since April 16, when news of this week's planned reversal of the Seaway crude pipeline broke. The pipeline ...

(Reuters) - Oil prices turned higher on Tuesday after data showing the U.S. manufacturing sector expanded in April at its fastest pace in 10 months eased concerns about slowing economic growth. The supportive U.S. factory data from the Institute of Supply Management (ISM) helped U.S. crude end at its highest settlement in five weeks and lifted equities on Wall Street, sending the S&P 500 index up 1 percent and the Dow to its highest level since December 2007. .N Technical buying kicked in after U.S. crude moved above the 50-day moving average at $105.21 a barrel. Crude had hit formidable resistance at that level in recent sessions. "The ISM data pushed crude up and strong equities are helping, and when crude moved above the 50-day moving average that triggered some technical buying," ...

(Reuters) - Oil prices were little changed on Friday in very light, tug-of-war trading, as concerns about economic growth were countered by hopes for additional easing by the Federal Reserve to boost a sputtering recovery. Brent edged lower and crude rallied late to settle, reducing Brent's premium to its U.S. counterpart, while both contracts posted second consecutive weekly gains. Prices felt pressure early, after ratings agency S&P downgraded Spain's credit rating. But oil pared losses ahead of U.S. GDP figures that showed growth cooled in the first quarter. But some investors believe slowing U.S. growth may prompt the Federal Reserve to launch a third round of government bond buying, or quantitative easing, known on Wall Street as QE3. "Bad news for the economy is being interpreted ...

(Reuters) - Natural gas futures edged higher in early trading Friday, with the new front month June contract up about 4 cents on some short-covering before the weekend despite continued concerns about mild spring weather and record-high supplies. Some traders said the market may have bottomed out after sinking to a 10-year spot chart low last week. Revised storage data and more talk of producer cuts lifted prices during the past few days. New front-month June natural gas futures on the New York Mercantile Exchange were at $2.161 per million British thermal units in early trade, up 3.5 cents, after sliding twice last week to $1.902 which marked the lowest level for a front month since January 2002. The May contract went off the board 3.2 cents lower at $2.036 after hitting a three-week ...

Fundamental Analysis EUR "Ifo index paints a too positive picture of the growth prospects for the German economy" - Carsten Brzeski, senior economist at ING Group German business confidence unexpectedly improved in April, a sign the euro zone’s largest economy is weathering Europe’s debt crisis. Ifo business climate index, which is based on a survey of 7,000 businesses, rose to 109.9 points from 109.8 points in March. USD "A strong Germany helps the euro massively, and helps other assets too" - Neil Jones, head of European hedge-fund sales at Mizuho Corporate Bank Ltd. U.S. stocks closed mixed on Friday while German investor confidence unexpectedly improved and blue chip companies from General Electrics to Microsoft reported better than expected earnings. GBP "While the month of March ...