admin

• Market talk of asset-reallocation from fixed-income and into equities has helped lift sentiment
from the open. • Reports that Spanish banks are pressing market regulators to reinstate a
short-selling ban on domestic financials has helped keep negative sentiment at…

Week Ending May 16, 2012
Natural gas prices remained above $2.30 per million British
thermal units (MMBtu) over the report week (Wednesday to Wednesday) at most of the country’s
trading locations. The Henry Hub price moved within a 5-cent range for much of the week before
rising sharply, closing at $2.50 per MMBtu yesterday (up 14 cents for the More >

Nat Gas has recovered quickly from yesterday’s post inventory sell-off and is trading well above
the $2.60/mmbtu level with an eye toward the next resistance area of about $2.733/mmbtu….

June natural gas prices traded higher during the overnight and initial morning hours.
Yesterday's EIA storage report showed a larger than expected weekly injection of 61 bcf.
This brought total storage to 2,667 bcf or 40.8% above the 5 year average….

ASIA A Chinese think tank has said GDP is likely to grow by around 7.5% in the second quarter of
this year, with inflation at 3.3% across the same period….

In connection with the launch of two (2) new Singapore Jet Fuel Swap Futures contracts on trade
date May 21, 2012 (see SER-6221 dated April 26, 2012), please note below the corresponding all
month/any one month accountability levels (NYMEX Rule 560), expiration month position limits (NYMEX
Rule 559), reportable levels (NYMEX Rule 561), diminishing balances and aggregation allocations More >

Today’s inventory injection was a tad above the market consensus but within the range of estimates.
The number came in below both last year and the five year average (see below for more details)
resulting in the inventory overhang narrowing once again….

Source: U.S.
Energy Information Administration, Natural Gas Monthly….

June natural gas met a very confluent and key resistance level near $2.62 when prices rose to
$2.638 on Wednesday. There are no strong negative technical factors that indicate the move up is
going to end. However, because of the importance of resistance at $2….

June Natural prices climbed to a new high for the move during the initial morning hours. The market
seemed to draft support from expectations that this morning’s EIA storage report would show an
injection below year ago levels….