Written Commentary
CRUDE OIL
Crude Oil prices are seeing support today on an apparent setback in Russia/Ukraine peace prospects after Moscow on Monday accused Ukraine of trying to attack President Vladimir Putin’s residence, which Kyiv denied. Russia has offered no evidence of the attack, and Ukraine suggested the claim is an attempt to derail the talks. Prior to these developments, Ukrainian President Volodymyr Zelenskiy had said that significant progress had been made in talks with President Trump and agreed that US and Ukrainian teams would meet next week to finalize issues aimed at ending Russia’s war in Ukraine. Russia says the attempted strikes on Putin’s residence will force them to reassess peace options, and Ukraine says this is just a pretense. Tensions are mounting between key OPEC producers Saudi Arabia and UAE.
NATURAL GAS
February Natural Gas was sharply higher early Tuesday as cold weather this week in the eastern Midwest and northeastern US is supporting heating demand and in the wake of a supportive EIA storage report yesterday. However the outlook does not show a consistent cold pattern that would suggest that a significant decline in supply is coming. World Weather Inc said yesterday that there will be some cooler bouts in the Midwest and northeastern states over the next week or so but no persistent cold, with the coldest days being yesterday and today (Tuesday). A big warming trend is slated for the central US. Temperatures will rise well above normal in the Great Plains and Rocky Mountain States later this week which will continue into next week.
Interested in more futures markets? Explore our Market Dashboards here.
Risk Warning: Investments in Equities, Contracts for Difference (CFDs) in any instrument, Futures, Options, Derivatives and Foreign Exchange can fluctuate in value. Investors should therefore be aware that they may not realise the initial amount invested and may incur additional liabilities. These investments may be subject to above average financial risk of loss. Investors should consider their financial circumstances, investment experience and if it is appropriate to invest. If necessary, seek independent financial advice.
ADM Investor Services International Limited, registered in England No. 2547805, is authorised and regulated by the Financial Conduct Authority [FRN 148474] and is a member of the London Stock Exchange. Registered office: 3rd Floor, The Minster Building, 21 Mincing Lane, London EC3R 7AG.
A subsidiary of Archer Daniels Midland Company.
© 2021 ADM Investor Services International Limited.
Futures and options trading involve significant risk of loss and may not be suitable for everyone. Therefore, carefully consider whether such trading is suitable for you in light of your financial condition. The information and comments contained herein is provided by ADMIS and in no way should be construed to be information provided by ADM. The author of this report did not have a financial interest in any of the contracts discussed in this report at the time the report was prepared. The information provided is designed to assist in your analysis and evaluation of the futures and options markets. However, any decisions you may make to buy, sell or hold a futures or options position on such research are entirely your own and not in any way deemed to be endorsed by or attributed to ADMIS. Copyright ADM Investor Services, Inc.
