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Crude Oil to Decline, Natural Gas to Gain

TheStreet -- Crude prices are expected to decline this week on bearish technical indicators, rising inventories and improving refinery utilization rates. Meanwhile, natural gas is likely to trade higher on bullish technical trends and higher demand.

Oil prices may trade lower this week on rising inventories. Last week, U.S. Energy Information Administration reported that crude oil stockpiles rose. Meanwhile, Baker Hughes(BHI) rig count stands at 977, up 4 from the penultimate week. Rising rig counts and higher refinery utilization shows an increase in production, leading to a decline in oil prices.

However, major economic releases are expected to be positive for the economy, which may improve oil prices to some extent later. Overall, oil prices are expected to end the week on a negative note.

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Submitted Sep 07, 2010 By: brbaritone

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APlus Champion Author San Antonio Posts:2,227 Points:612,695 Joined:Apr 2007	Message Posted: Sep 8, 2010 4:42:36 AM Ignore APlus Report Abuse Natural gas is needed more for winter heating prices unless already priced locked in to last longer than April 2011.
Amplion Champion Author Oregon Posts:4,262 Points:1,401,460 Joined:Sep 2005	Message Posted: Sep 8, 2010 3:53:22 AM Ignore Amplion Report Abuse VERY GOOD! ELECTRIC IS BETTER THAN NG.
CrackedLCD Champion Author Alabama Posts:6,689 Points:1,296,325 Joined:May 2008	Message Posted: Sep 8, 2010 1:05:33 AM Ignore CrackedLCD Report Abuse That makes me wonder why gas in my town is up today 14¢ a gallon overnight!
PDQBlues Champion Author San Diego Posts:4,726 Points:984,350 Joined:Jan 2009	Message Posted: Sep 8, 2010 12:41:38 AM Ignore PDQBlues Report Abuse Yes, Huskersed, I have noticed gas prices have come down over the last few weeks. Will that fall continue?
Huskersed All-Star Author Atlanta Posts:703 Points:337,950 Joined:Nov 2008	Message Posted: Sep 8, 2010 12:17:34 AM Ignore Huskersed Report Abuse Prices are dropping a little.
POLELANE Champion Author Ohio Posts:7,148 Points:828,370 Joined:Mar 2008	Message Posted: Sep 8, 2010 12:16:42 AM Ignore POLELANE Report Abuse aha; under all recent news is newer news. Go natural gas; go OH
MidNJ Champion Author New Jersey Posts:4,662 Points:743,495 Joined:Sep 2009	Message Posted: Sep 8, 2010 12:07:15 AM Ignore MidNJ Report Abuse Kag, you are right, we shall see!
kag2010 Champion Author Winnipeg Posts:2,910 Points:564,335 Joined:Apr 2010	Message Posted: Sep 7, 2010 10:58:33 PM Ignore kag2010 Report Abuse We shall see.
brbaritone Champion Author Virginia Posts:1,078 Points:1,273,410 Joined:Jan 2007	Message Posted: Sep 7, 2010 10:31:35 PM Ignore brbaritone Report Abuse I really hope this is true, but the same indicators cited for their prediction have failed to cause declines in prices over the last year. We shall see.