| Natural Gas Prices Fluctuate between $2.70 and $2.90 per MMBtu | |
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Weather and Demand Support Natural Gas Prices (Continued from Prior Part) Rectangular pattern
September natural gas futures contracts trading in NYMEX are trading close to the resistance of $2.90 per MMBtu (British thermal units in millions). Prices settled at $2.84 per MMBtu as of August 10, 2015. The warm weather forecast is influencing natural gas prices this week.
Key support and resistance
Bullish traders could see resistance at $3 per MMBtu. Prices tested this level in April 2015. Warm weather and the demand from power plants could boost natural gas prices. In contrast, the consensus the rising natural gas stockpile could drag natural gas prices lower. The next support for gas prices is seen at $2.60 per MMBtu. Prices tested this level in June 2015.
The rectangular trading range suggests that prices could fluctuate between $2.60 and $3 per MMBtu in the near term. Market surveys project that natural gas prices could average around $2.70 per MMBtu in 2015 and $3 per MMBtu in 2016.
ETFs like the VelocityShares 3X Long Natural Gas ETN (UGAZ) and the United States Natural Gas Fund LP (UNG) benefit from rising natural gas prices.
Rising natural gas prices also benefit oil and gas producers like EQT (EQT), Energen (EGN), and Cimarex (XEC). Combined, they account for 3.60% of the SPDR Oil and Gas ETF (XOP). These stocks’ natural gas production mix is more than 59% of their production portfolio.
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Cimarex Energy Co.
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CODE : XEC |
ISIN : US1717981013 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
Cimarex Energy est une société de production minière basée aux Etats-Unis D'Amerique. Cimarex Energy est cotée aux Etats-Unis D'Amerique et en Allemagne. Sa capitalisation boursière aujourd'hui est 8,3 milliards US$ (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. |