{"id":9406,"date":"2024-11-11T14:07:07","date_gmt":"2024-11-11T19:07:07","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9406"},"modified":"2024-11-13T14:08:02","modified_gmt":"2024-11-13T19:08:02","slug":"energy-enters-a-new-era","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/ar\/energy-enters-a-new-era\/","title":{"rendered":"Energy Enters a New Era"},"content":{"rendered":"\n\n\n
Conventional energy commodities were heavily impacted by Trump\u2019s comeback, while economic uncertainty prevails in China, negatively impacting the demand side.<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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Crude Oil<\/p>\n

WTI offset mid-week gains on China uncertainty<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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  • WTI crude oil futures fell by 3% to $70 per barrel amid renewed demand concerns after China\u2019s recently announced stimulus measures fell short of market expectations, nearly offsetting gains made after Donald Trump’s re-election in the US.<\/li>\n
  • China\u2019s top legislative body approved a $1.4 trillion package to help local governments manage off-balance-sheet debt but withheld additional fiscal stimulus, disappointing investors amid growing economic uncertainties.<\/li>\n
  • Oil prices were already under pressure as supply risks eased, with Hurricane Rafael, which had disrupted US crude production, expected to weaken and gradually move away from Gulf Coast oilfields.<\/li>\n
  • Initially, crude prices dipped as the dollar strengthened following Trump\u2019s comeback, though prices later rebounded on speculation that Trump may impose sanctions on Iranian oil supplies.<\/li>\n
  • Speculators increased their net long positions by 41.3k contracts, the largest rise in 8 months, immediately following Trump\u2019s election, as his presidency is expected to prioritize conventional energy commodities over the green energy transition.<\/li>\n<\/ul>\n

    Gasoline<\/p>\n

    Prices remain close to the $2 mark amid export concerns<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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    • US gasoline futures held near $2 per gallon as Trump\u2019s election win and a stronger dollar put pressure on dollar-denominated commodities.<\/li>\n
    • Analysts suggest Trump\u2019s policies could slow China\u2019s economy, potentially reducing demand from the world\u2019s largest oil importer.<\/li>\n
    • Net exports were reported unchanged (as of Nov 1, 2024) compared to the same period last year.<\/li>\n
    • Additional downward pressure came from EIA data showing gasoline inventories increased by 412k barrels, while a slight rise in gas demand to 9.15 million bpd was reported.<\/li>\n
    • Meanwhile, US Gulf producers began halting operations and evacuating staff as Tropical Storm Rafael, expected to reach Category 1 hurricane strength, approaches offshore fields.<\/li>\n<\/ul>\n

      Natural Gas<\/p>\n

      Natural Gas sees upward movement, despite higher-than-expected buildup<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
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      • US natural gas futures rose above $2.70\/MMBtu, on track for weekly gains, driven by forecasts for cooler weather and higher-than-expected heating demand.<\/li>\n
      • At the same time, lower production levels due to pipeline issues and Gulf of Mexico curtailments ahead of Tropical Storm Rafael added upward pressure on prices.<\/li>\n
      • Energy companies had already reduced production in the Gulf by about 10%.<\/li>\n
      • Meanwhile, the EIA reported a 69 billion cubic feet (bcf) increase in gas storage for the week ending Nov. 1, slightly surpassing the forecasted 65 bcf and significantly higher than last year\u2019s 19 bcf gain.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        Conventional energy commodities were heavily impacted by Trump\u2019s comeback, while economic uncertainty prevails in China, negatively impacting the demand side. Crude Oil WTI offset mid-week gains on China uncertainty WTI crude oil futures fell by 3% to $70 per barrel amid renewed demand concerns after China\u2019s recently announced stimulus measures fell short of market expectations, […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[1],"tags":[],"class_list":["post-9406","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/9406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/comments?post=9406"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/9406\/revisions"}],"predecessor-version":[{"id":9407,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/posts\/9406\/revisions\/9407"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/media?parent=9406"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/categories?post=9406"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/ar\/wp-json\/wp\/v2\/tags?post=9406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}