1/11/2013 Update:
Thursdays Crude Pit Session:
High: 94.61
Low: 93.61
Settle:
93.82
Looking
ahead to today’s crude pit session:
Traders
quickly pushed prices lower yesterday after crude made overnight highs of 94.70
on economic data out of China that showed they beat export expectations by
14.1% in December and also on news that Saudi Arabia cut production levels 4.9%
to 9.025 million barrels per day in December, its largest monthly drop since
November 2008. Prices dropped further
last night on news that Chinas inflation rate climbed to a 7 month high. Traders are now looking ahead to today’s US
Trade Balance data as well as any key geopolitical news to give us an
indication whether this down trend may continue.
Tune in this
morning to hear a full Analysis and pit commentary.
Levels:
Support:
93.00, 92.75, 92.42, 92.00, 91.49, 91.00
Resistance: 93.44, 93.61, 93.82, 94.01, 94.59, 94.70,
94.87
Thursdays Natural Gas Pit
Session:
High: 3.211
Low: 3.128
Close / Settle:
3.194
Today’s
Natural Gas pit session:
Traders pushed Natural Gas prices higher after yesterdays EIA data
showed a larger than expected draw of -201 BCF.
Over the last four weeks natural gas storage has declined -490 BCF this
may be the beginning of a change in the market
direction as the temperatures across most of the country may be below normal
beginning the third week in January. If the these actual temps are in line with
the latest NOAA projections we could see inventory withdrawal levels continue
to decline heading into February.
Tune in this
morning to hear a full analysis and pit commentary.
Levels:
Support: 3.171, 3,128, 3.122, 3.082, 3.050
Resistance: 3.2.11, 3.219, 3.260, 3.347
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