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Natural Gas hits 13-year low, Oil extends slide

FXStreet (Mumbai) - Natural gas for January delivery fell 4.5% to USD 1.901/mmBtu on the NYMEX; its lowest price since Jan 28, 2002, while oil prices extended the drop seen in Asia.

At the time of writing, Natural Gas was down 4.3% at USD 1.905/mmBtu. Brent Jan futures were down 0.8% at USD 38/barrel and WTI futures were down 0.5% at USD 35.42/barrel.

Natural gas is down more than 30% this year and is heading for its second annual loss. The latest weather forecasts predict above normal temperature, which will reduce heating demand through year end.

US: Good enough for a December rate hike - ING

Rob Carnell, Chief International Economist at ING, suggests that after the US retail sales for November, the November CPI release, are perhaps the only data point ahead of the 16 Dec FOMC meeting that could, if atrocious, have caused a re-think about what is looking like a probable 25bp hike.
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European Monetary Union Industrial Production s.a. (MoM) came in at 0.6%, above expectations (0.3%) in October

European Monetary Union Industrial Production s.a. (MoM) came in at 0.6%, above expectations (0.3%) in October
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