{"id":9346,"date":"2024-09-16T15:26:43","date_gmt":"2024-09-16T19:26:43","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=9346"},"modified":"2024-09-23T15:30:10","modified_gmt":"2024-09-23T19:30:10","slug":"energy-on-troubled-waters","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/es\/energy-on-troubled-waters\/","title":{"rendered":"Energy on Troubled Waters"},"content":{"rendered":"\n\n\n
\n

Crude oil and gasoline struggled to regain after previous weeks’ slump as global demand estimates lowered, while natural gas rose, reaching a 2-month high due to reduced output.<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n

Crude Oil<\/p>\n

WTI crude oil speculators send bearish signal<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
\n
    \n
  • Investors are currently holding one of the lowest number of long positions in WTI oil contracts in the last 12 years.<\/li>\n
  • WTI crude oil futures dipped slightly to $68.65\/barrel, breaking a two-day winning streak, as production and refining activities in the US Gulf Coast resumed.<\/li>\n
  • EIA data showed that nearly 42% of oil production remained shut down due to weather.<\/li>\n
  • Despite these supply disruptions, oil prices faced downward pressure amid ongoing concerns about sluggish demand in key markets.<\/li>\n
  • The IEA warned of slowing global oil demand growth, particularly driven by China’s weakening economy, and projected a potential supply surplus in 2024 even with OPEC+ production cuts.<\/li>\n
  • Earlier data this week revealed a 3.1% decline in China’s crude oil imports from January to August 2024, compared to the same period last year.<\/li>\n<\/ul>\n

    Gasoline<\/p>\n

    Gasoline prices found support after freefall<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
    \"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
    \n
      \n
    • US gasoline futures were around $1.9 per gallon in September, the lowest since February 2021, amid a broader slump in the oil market driven by reduced fuel demand.<\/li>\n
    • This decline was fueled by recent US economic data signaling lower demand amid a cooling labor market, which intensified concerns over contracting factory activity.<\/li>\n
    • Additionally, eased supply constraints from Libya and weak Chinese manufacturing data further pressured the market.<\/li>\n
    • China’s factory activity saw its sharpest decline of the year, heightening fears that Beijing’s lack of stimulus will suppress demand for energy-intensive goods, a trend mirrored by reduced earnings for major Chinese oil producers.<\/li>\n<\/ul>\n

      Natural Gas<\/p>\n

      Natural gas futures rose to a 2-month high<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
      \"\"<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n\n\n\n
      \n
        \n
      • US natural gas futures held above $2.3\/MMBtu, near a two-month high, up 3% this week, driven by higher demand forecasts and reduced output due to Hurricane Francine, which forced producers to cut back.<\/li>\n
      • The main driver is reduced gas injections into storage near the end of the storage season.<\/li>\n
      • The EIA reported a 40 bcf storage increase for the week’s end, below forecasts and below last year’s and the five-year average.<\/li>\n
      • Producers are expected to further reduce output in late 2024 following a 40% price drop over the last two months.<\/li>\n
      • Estimates indicate a nearly 50% production cut, highlighting the growing dominance of shale output over offshore Gulf of Mexico supply.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>","protected":false},"excerpt":{"rendered":"

        Crude oil and gasoline struggled to regain after previous weeks’ slump as global demand estimates lowered, while natural gas rose, reaching a 2-month high due to reduced output. Crude Oil WTI crude oil speculators send bearish signal Investors are currently holding one of the lowest number of long positions in WTI oil contracts in the […]<\/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-9346","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9346","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/comments?post=9346"}],"version-history":[{"count":1,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9346\/revisions"}],"predecessor-version":[{"id":9349,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/posts\/9346\/revisions\/9349"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/media?parent=9346"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/categories?post=9346"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/es\/wp-json\/wp\/v2\/tags?post=9346"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}