The Energy Report - QE Infinity Can Wait
By Phil Flynn | January 24, 2013 1:46 AM EST
Forget about Japan going all in as they put off QE Infinity until next year. In the mean time they still will buy $13 trillion yen ($146 billion) in assets per month but the commitment to go all in with unlimited purchases was surprisingly put off. The lack of commitment failed to inspire oil that now seems more focused on weather than massive changes in monetary policy.
Winter has come with a vengeance as we go into a deep freeze. Heating oil prices have been supporting products just as it seemed we were getting ready for our seasonal correction. Still NOAA is looking for a warm up in the 6 to ten day forecast so don't get too weather crazy.
Of course we did see the biggest jump In production since before the civil war. The Energy Information Administration reported that historic fact yet for WTI that may be short term bullish as we start to move more oil down to the Gulf Coast. Still the energy industry has done what some have said was impossible which goes to show you not to underestimate the mind of human kind.
Natural gas is running on the cold and the Energy Information Administration is warning that, "Since November, New England has had the highest average spot natural gas prices in the nation. Average prices at the Algonquin Citygate trading point, a widely used index for New England natural gas buyers, have been $3 per million British thermal units (MMBtu) higher than natural gas prices at the Henry Hub, and more than $2 per MMBtu higher than average spot price at Transco Zone 6 NY, which serves New York City and has historically traded at prices similar to those in New England. Full pipelines from the West and South limit further deliveries from most of North America, while high international prices and declining production in eastern Canada pose challenges in making up the difference from the north and east, except at higher prices. As a result of these market conditions, New England natural gas and electric power prices this winter could be volatile at times. During November and December, spot natural prices in the northeastern United States, seesawed in relation to weather-driven pipeline constraints. This price volatility has continued into January 2013 to date.
Golden Slumbers! The physical gold market is heating up in Asia as Lunar New Year festivities are getting ready celebrate with golden gifts on February 10th!
You can be golden when you open your trading account with me - Phil Flynn - at Price Futures and get a free trial to my daily trade levels! Just call Phil Flynn at 888.264.5665 or email me email@example.com
Most Popular Slideshows
- Taylor Swift Named People's Best Dressed Stars Of 2014 [PHOTOS]
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
- Jeremy Lin, Kobe Bryant Among The Top 5 Overpaid Players In The NBA (Part 1 - Western Conference)
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
Join the Conversation
- 2 Reasons Nexus 6 Release Date is Worth the Wait: Android L Data Encryption & Material Design
- Unofficial ‘Samsung Galaxy Alpha’ Can Now Be Purchased For $700 In The US
- Google Now v. Siri v. Cortana – Comparison Of The Three Leading Virtual Assistants
- iOS 8 Jailbreak Release Update: Pangu Devs Will Outrace Evad3rs in Rollout of iPhone 6, iPad Unlocker
- Xperia Z, Xperia ZL, Xperia ZR Android 4.4.4 KitKat Update Guide
- Canada Consumer Alert: Costco No Longer Accepting American Express Cards Starting Jan 1
- Sony Xperia E3 vs. Moto G (2014) – Specifications, Features And Price Showdown