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Gas prices remain volatile, oil prices rebound from panic

By Jenal Mehta

13:31, 29 November 2021

Photo of light bulb in hands
The impending cooler temperatures of winter are increasing demand prospects – Photo: Shutterstock

US natural gas is trading at under $5 per million British thermal units, continuing to linger between $4.80-$5.40 as it has in recent weeks.

The impending cooler temperatures of winter are increasing demand prospects. According to the US Energy Information Administration (EIA), the high gas prices seen this Thanksgiving holiday were last seen in 2012.

High export demand for US natural gas has limited the downward pressure on prices, though developments such as potential lockdowns may have the opposite effect. EIA said stockpiles have moved to an average in the recent weeks and due to uncertain demand prospects, prices are expected to remain volatile.

Brent crude oil and US crude oil are trading at around $76.17 and $71.39, respectively, representing about a 5% decline since Friday. This is actually a rebound after a further drop in prices was seen over the weekend due to concerns over the new Covid-19 variant, Omicron. Sources told Reuters that the Organization of the Petroleum Exporting Countries (OPEC) has postponed their meeting to later in the week to evaluate the impact of the variant.

Silver

22.79 Price
-1.000% 1D Chg, %
Long position overnight fee -0.0205%
Short position overnight fee 0.0123%
Overnight fee time 22:00 (UTC)
Spread 0.020

Natural Gas

2.29 Price
-9.590% 1D Chg, %
Long position overnight fee 0.1095%
Short position overnight fee -0.1314%
Overnight fee time 22:00 (UTC)
Spread 0.0050

Oil - Brent

75.80 Price
-0.420% 1D Chg, %
Long position overnight fee -0.0187%
Short position overnight fee -0.0032%
Overnight fee time 22:00 (UTC)
Spread 0.045

Gold

1,982.55 Price
-1.130% 1D Chg, %
Long position overnight fee -0.0201%
Short position overnight fee 0.0118%
Overnight fee time 22:00 (UTC)
Spread 0.30

Performance

Brent crude oil

  • Day range: $72.14-$81.66
  • 52-week range: $46.82-$86.70
  • One-week change: -4.82%
  • One-month change: -9.39%
  • Six-month change: 10.39%
  • One-year change: 57.45%

US crude oil

  • Day range: $69.20-$72.16
  • 52-week range: $43.92 - £83.41
  • One-week change: -6.91%
  • One-month change: -12.63%
  • Six-month change: 8.09%
  • One-year change: 56.93%

US natural gas

  • Day range: $5.00-$5.51
  • 52-week range: $2.26-$6.47
  • One-week change: -13.74%
  • One-month change: 0.39%
  • Six-month change: 82.42%
  • One-year change: 91.59%
Recent oil price changes in a chartThe impending cooler temperatures of winter are increasing demand prospects – Credit: Koyfin

Read more: Oil prices rebound on hopes OPEC suspend output increase

Markets in this article

Oil - Brent
Brent Oil
75.795 USD
-0.321 -0.420%
Oil - Crude
Crude Oil
71.184 USD
-0.359 -0.500%
Natural Gas
Natural Gas
2.2890 USD
-0.2415 -9.590%

Related topics

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The difference between trading assets and CFDs
The main difference between CFD trading and trading assets, such as commodities and stocks, is that you don’t own the underlying asset when you trade on a CFD.
You can still benefit if the market moves in your favour, or make a loss if it moves against you. However, with traditional trading you enter a contract to exchange the legal ownership of the individual shares or the commodities for money, and you own this until you sell it again.
CFDs are leveraged products, which means that you only need to deposit a percentage of the full value of the CFD trade in order to open a position. But with traditional trading, you buy the assets for the full amount. In the UK, there is no stamp duty on CFD trading, but there is when you buy stocks, for example.
CFDs attract overnight costs to hold the trades (unless you use 1-1 leverage), which makes them more suited to short-term trading opportunities. Stocks and commodities are more normally bought and held for longer. You might also pay a broker commission or fees when buying and selling assets direct and you’d need somewhere to store them safely.
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