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US natural gas prices hit 10-day high, but Covid-19 surge in Europe hits demand for oil

By Jenal Mehta

11:34, 26 November 2021

Oil pipeline in sunset
Pipe – Credit: Shutterstock

US natural gas reached its highest price in 10 days, trading at above $5.1 per million British thermal units. This is still down almost 17% from the six-year peak seen in early October. However, these prices remain on the higher side, as upward demand pressures continue.

The latest weekly update from the US Energy Information Administration (EIA) says the supply of natural gas has been squeezed this week due to a 1.7% decrease in production, while demand was up 6.8% compared to this time last year. Exports also remain strong.

Brent crude oil and US Crude oil traded at $82.17 and $78.39 respectively, both falling around 6% since yesterday. Demand outlook is weakening as new Covid-19 lockdown measures are implemented in Europe. Britain has imposed travel restrictions on journeys to and from six African countries.




2,072.25 Price
+1.760% 1D Chg, %
Long position overnight fee -0.0193%
Short position overnight fee 0.0111%
Overnight fee time 22:00 (UTC)
Spread 0.30


25.49 Price
+0.890% 1D Chg, %
Long position overnight fee -0.0200%
Short position overnight fee 0.0118%
Overnight fee time 22:00 (UTC)
Spread 0.020

Natural Gas

2.77 Price
-1.140% 1D Chg, %
Long position overnight fee 0.0451%
Short position overnight fee -0.0670%
Overnight fee time 22:00 (UTC)
Spread 0.0050

Oil - Crude

74.50 Price
-1.560% 1D Chg, %
Long position overnight fee -0.0136%
Short position overnight fee -0.0083%
Overnight fee time 22:00 (UTC)
Spread 0.040

US Natural Gas

  • Day range: $5.04 - $5.22
  • 52-week range: $2.26 - $6.47
  • One-week change: -0.26%
  • One-month change: - 15.84%
  • Six-month change: 66.90%
  • One-year change: 72.60%

Brent Crude Oil

  • Day range: $81.72 - $82.58
  • 52-week range: $46.82 - $86.70
  • One-week change: 4.16%
  • One-month change: -4.90%
  • Six-month change: 19.55%
  • One-year change: 71.90%

US Crude Oil

  • Day range: $72.60 - $78.65
  • 52-week range: $43.92 - £85.41
  • One-week change: -3.49%
  • One-month change -11.34%
  • Six-month change: 10.51%
  • One-year change: 60.97%
Recent percentage price changes Three month percentage price change – Credit: Koyfin

Read more: BHP merges its oil and gas business with Woodside Petroleum

Markets in this article

Oil - Brent
Brent Oil
79.146 USD
-1.303 -1.620%
Oil - Crude
Crude Oil
74.504 USD
-1.183 -1.560%
Natural Gas
Natural Gas
2.7730 USD
-0.032 -1.140%

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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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