(UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun

(UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun

Summary:

  • Brent Crude Oil prices are on the rise again hitting their highest prices since late March.
  • Natural Gas Prices hitting almost 14 year high.
  • Cotton prices increasing with crop planting is ahead of schedule.

Brent Crude Oil spikes as Libya shuts its biggest oil field

The market sentiment for Brent Crude Oil is bullish, reflecting the tight market supply.

In an already under-supplied market, the price of Brent Crude Oil rose in reaction to Libya shutting their biggest oil field. The shutdown came in response to protests against the country's prime minister. In addition, increased tensions between Russia and The Ukraine raised concerns of the EU tightening sanctions. The price of Brent Crude Oil is expected to keep rising amidst the concerns of supply shortages world wide.


 

Read next: (UKOIL) Brent Crude Oil Spikes to Highest Price For April, (NGAS) Natural Gas Hitting Pre-2008 Prices, Cotton Planting Has Begun


 

What Is Brent?

Brent Crude Oil Price Chart

Natural Gas Hits Highest Price since 2008

The NGAS commodity price reached its highest since late 2008, the high prices come in reaction to abnormal weather temperatures along with the supply shortages. In addition, the NGAS inventory is currently sitting at almost 24% lower than this time last year. The mix between increasing demand and tight supply, is contributing to the rising price of the commodity. The Russia-Ukraine conflict still remains one of the main drivers for the increase in NGAS prices.


 

For you: Forex Rates: British Pound (GBP) Strengthening? Weak (EUR) Euro? GBP, NZD And AUD Supported By Monetary Policy?


 

What Is Natural Gas (NATGAS)?

Chart Showing the Price of NGAS

Cotton July ‘22 Futures Rise as Crop is Planted

The price of cotton futures bounced back in yesterday's trading market and in the past week as a result of the cotton crop being planted, the pace of planting is ahead of last year's pace and seems to be sparking investor confidence. The price of cotton is still dependent on some macroeconomic issues such as; post the COVID-19 world, whether the Russia-Ukraine war will be contained and the U.S.-China trade relations. In addition, factors such as weather will also play a part in the futures price of cotton.

What Is Cotton?

Cotton Futures Price Chart

Sources: Finance.yahoo.com, Marketwatch.com, Tradingeconomics.com, investingnews.com

Charts: Finance.yahoo.com

Rebecca Duthie

Rebecca Duthie

Remote Editor and writer Intern
FXMAG.COM

Rebecca has a bachelors degree in Investment Management, a Post Graduate Diploma in Financial Planning and is currently enrolled in a Masters program in International Management with a Specialization in International Finance.