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Supply and Demand Imbalance Impacts Natural Gas Prices (Continued from Prior Part) Price channel
Natural gas futures contracts for September delivery rose from the key support of $2.70 per MMBtu (British thermal units in millions) on August 3, 2015. Prices have been fluctuating between $2.70 and $2.90 per MMBtu since the mid-week of June 2015. The consensus of the rising natural gas stockpile and weather forecast are swinging natural gas prices.
Support and resistance
The warm weather forecast and slowing natural gas production consensus could support natural gas prices. The resistance for natural gas prices is seen at $3 per MMBtu. Prices tested this mark in May 2015. In contrast, mild weather and slowing demand could push natural gas prices lower. The key support for natural gas prices is seen at $2.50 per MMBtu. Prices tested this level in April 2015.
Natural gas price charts suggest that prices could fluctuate between $2.60 and $3 per MMBtu in the short term. Citigroup forecasts that natural gas prices could average around $2.70 per MMBtu in 2015 and $3 per MMBtu in 2016.
The performance of ETFs like the VelocityShares 3X Long Natural Gas ETN (UGAZ) and the United States Natural Gas Fund LP (UNG) benefit from rising natural gas prices. They also benefit natural gas producers like Cimarex (XEC), Energen (EGN), and Antero (AR). These companies account for 3.20% of the SPDR Oil and Gas ETF (XOP). These stocks’ natural gas production mix is greater than 59% of their production portfolio.
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Cimarex Energy Co.
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CODE : XEC |
ISIN : US1717981013 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cimarex Energy est une société de production minière basée aux Etats-Unis D'Amerique. Cimarex Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 8,3 milliards US$ (7,2 milliards €). La valeur de son action a atteint son plus haut niveau récent le 23 mai 2018 à 99,89 US$, et son plus bas niveau récent le 30 septembre 2021 à 87,20 US$. Cimarex Energy possède 95 438 121 actions en circulation. |