On the evening of February 5, the United States released the latest week EIA natural gas report. According to the report, the total natural gas inventory in the United States is 2,609 billion cubic feet, an increase of 615 billion cubic feet over the same period last year, and 19 billion cubic feet higher than the five-year average. After the report was released, U.S. natural gas futures were up from down.

It's worth noting that in a report on the evening of February 5, the analyst of Dow Securities said that OPEC's further production reduction will not increase crude oil prices. He believes that the OPEC Technical Committee is expected to agree to further cut production by 500,000 barrels/ day, which will eliminate some downward pressure on oil prices, but this is still not a bullish time. After more than a day of negotiations, the OPEC+ Technical Committee decided to reduce the production by 600,000 barrels/ day, but Russia is still not satisfied with this, hoping to have more time to assess the impact of the epidemic of 2019-nCoV. This reduction, coupled with the support of supply disruptions in Libya and Iraq, may be enough to prevent a major slump in oil prices, but given the severe blow to demand, it is unlikely that the market will think that this reduction factor is enough to bullish oil prices, as the market's reference forecast is close to 1 million barrels/ day.

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