Natural Gas Supplies Are Down. So Why Is The Price Down Also?
U.S. jobless claims were down 11,000 last week to
433,000, and March 10 year T-notes were up to 113-24. March S&P futures
closed at 885, again below the 50-day moving average, at the bottom of a
consolidation, and very close to an important Fib level.
Gold made yet another new high, with Feb gold
closing at another five-year high at 346.5.
Venezeula’s oil flow is about 12% of normal, due
to the three-week old labor strike. January Crude rose to close at 30.56.
Natural gas supplies are down about 18% from last year, but higher than normal
temperature forecasts in the Northern US sent March natural gas prices down to
4.870.
Mexico and Japan are buyers of wheat. March wheat
fell to 350 1/4.
High inventories and a weak stock market sent
March copper lower, to close at .7205.