{"id":4706,"date":"2019-01-23T14:26:27","date_gmt":"2019-01-23T19:26:27","guid":{"rendered":"https:\/\/www.fundamentalanalytics.com\/?p=4706"},"modified":"2019-01-23T14:28:31","modified_gmt":"2019-01-23T19:28:31","slug":"commodity-market-update-january-23-2019","status":"publish","type":"post","link":"https:\/\/www.fundamentalanalytics.com\/pt\/commodity-market-update-january-23-2019\/","title":{"rendered":"Commodity Market Update January 23, 2019"},"content":{"rendered":"<p><strong><em>Our weekly commentaries and updates will remain free until April 2019. Effective April 2019, a subscription will be required in order to receive them. Of course, clients of Fundamental Analytics and BlackSummit Financial Group will continue receiving our weekly content for free.<\/em><\/strong><\/p>\n\n\n\n<p>Commodity Market Update, January 23, 2019<\/p>\n\n\n\n<p><strong>Energia<\/strong><\/p>\n\n\n\n<p>US domestic crude oil prices\nare often influenced by global events.&nbsp;\nOn Monday the International Monetary Fund reported an increased\npossibility&nbsp; of a global economic\nslowdown and reduced its 2019 global growth forecast to 3.5% from 3.7%.&nbsp; Also on Monday China reported the lowest\nannual economic growth in nearly 30 years.&nbsp;\nThe annual economic growth rate of China was 6.6% in 2018.&nbsp; Crude oil prices dropped nearly 2% in\nreaction to the global news (Chart 1).<\/p>\n\n\n\n<p><strong>Chart 1<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img fetchpriority=\"high\" decoding=\"async\" width=\"974\" height=\"487\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-1.png\" alt=\"\" class=\"wp-image-4707\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-1.png 974w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-1-300x150.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-1-768x384.png 768w\" sizes=\"(max-width: 974px) 100vw, 974px\" \/><\/figure><\/div>\n\n\n\n<p>In contrast US domestic natural gas prices are not affected by global economic events but rather by US domestic factors of supply\/demand and weather.&nbsp; However, those factors are often not sufficient to explain natural gas price behavior.&nbsp; Last Friday prices were up in response to cold weather forecasts.&nbsp; Yet, when the cold weather materialized, prices dropped sharply on Tuesday, down over 12% (Chart 2).&nbsp; This price behavior illustrates the difficulty and risk of speculating in natural gas.<\/p>\n\n\n\n<p><strong>Chart 2<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"972\" height=\"485\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-2.png\" alt=\"\" class=\"wp-image-4708\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-2.png 972w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-2-300x150.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-2-768x383.png 768w\" sizes=\"(max-width: 972px) 100vw, 972px\" \/><\/figure><\/div>\n\n\n\n<p><strong>Chart 3<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img decoding=\"async\" width=\"972\" height=\"712\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-3.png\" alt=\"\" class=\"wp-image-4709\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-3.png 972w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-3-300x220.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-3-768x563.png 768w\" sizes=\"(max-width: 972px) 100vw, 972px\" \/><\/figure><\/div>\n\n\n\n<p><strong>Chart 4<\/strong><\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" decoding=\"async\" width=\"972\" height=\"722\" src=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-4.png\" alt=\"\" class=\"wp-image-4710\" srcset=\"https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-4.png 972w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-4-300x223.png 300w, https:\/\/www.fundamentalanalytics.com\/wp-content\/uploads\/2019\/01\/CMU-0122-4-768x570.png 768w\" sizes=\"(max-width: 972px) 100vw, 972px\" \/><\/figure><\/div>","protected":false},"excerpt":{"rendered":"<p>Our weekly commentaries and updates will remain free until April 2019. Effective April 2019, a subscription will be required in order to receive them. Of course, clients of Fundamental Analytics and BlackSummit Financial Group will continue receiving our weekly content for free. Commodity Market Update, January 23, 2019 Energy US domestic crude oil prices are [&hellip;]<\/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":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","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-4706","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/4706","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/comments?post=4706"}],"version-history":[{"count":4,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/4706\/revisions"}],"predecessor-version":[{"id":4714,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/posts\/4706\/revisions\/4714"}],"wp:attachment":[{"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/media?parent=4706"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/categories?post=4706"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.fundamentalanalytics.com\/pt\/wp-json\/wp\/v2\/tags?post=4706"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}