Summary LNG futures to be listed on Shanghai Futures Exchange Contracts could shift market influence to China from West China’s LNG imports forecast to rise 12% this year (Reuters) – China is set to offer domestic-listed, yuan-denominated liquefied natural gas (LNG) futures contracts as soon as next month, people with knowledge of the matter said, …
China to Offer LNG Futures as Soon as Next Month – Sources Read More »
Summary Oil prices had dropped on Thursday as Greenland tension subsided Supply disruption concerns offered price support Kazakhstan’s Tengiz oilfield yet to resume output (Reuters) – Oil prices rebounded on Friday after U.S. President Donald Trump renewed threats against Iran, raising concerns of military action that could disrupt crude supplies while there are outages …
Oil Prices Rise on Trump’s Iran ‘Armada’ Comments and Kazakh Outage Read More »
(Reuters) – Valero has bought a cargo of Venezuelan crude oil, two sources said on Wednesday, one of the first deals by U.S. Gulf Coast refiners that are part of Washington’s agreement with Caracas to export up to 50 million barrels. Phillips 66 has also purchased a cargo, one of the sources said. Both bought …
Valero, Phillips 66 Buy Venezuelan Oil Cargoes as Part of Washington’s Deal With Caracas Read More »
(Reuters) – The Trump administration is allowing China to purchase Venezuelan oil but not at “unfair, undercut” prices at which Caracas sold the crude before the U.S. removed its leader Nicolas Maduro, an administration official said on Thursday. While the oil will be sold in the global marketplace, the U.S. administration has required that the …
(Reuters) – Winter electricity demand on the largest U.S. power grid – the PJM Interconnection – is expected to set an all-time record next week as large swaths of the United States brace for an Arctic blast of cold weather. PJM’s seven-day forecast on Thursday morning predicted 144,465 megawatts of demand on January 27. That …
Largest US Electric Grid Expects All-Time Record Winter Demand Read More »
(Reuters) – Investment firm Kimmeridge plans to nominate former Pioneer Natural Resources CEO Scott Sheffield to Coterra Energy’s board, the Wall Street Journal reported on Thursday, citing people familiar with the matter. Kimmeridge has said Coterra’s board must reassess its leadership structure and appoint an independent, non-executive chair, the report said, adding that it expects …
Kimmeridge to Nominate Scott Sheffield to Coterra Energy Board, WSJ Reports Read More »
(Reuters) – A profound proposed reform of Venezuela’s hydrocarbons law would allow foreign and local companies to operate oilfields on their own through a new contract model, commercialize output and receive sale proceeds even if acting as minority partners of state company PDVSA, drafts seen by Reuters on Thursday showed. Venezuela’s interim President Delcy Rodriguez …
By Weilun Soon Rates to ship crude on tankers are surging more widely across the world after the US moved to exert control over Venezuelan flows, a trade once primarily handled by a dark fleet of aging vessels. Shipowners are deploying legitimate tankers near the US Gulf in anticipation of higher demand for vessels instead …
Venezuela’s Oil Shakeup Ripples Even Wider Across Tanker Market Read More »
By Monique Mulima A sizzling rally in energy stocks over the past few months has the group reaching a new high as rising geopolitical uncertainty pushes investors to bet on elevated oil prices. The S&P 500 Energy Index rose 2.4% to close at $750.17 on Wednesday, making it the best performing sector in the S&P …
Energy Stocks Hit Record High on Greenland, Arctic Blast Read More »
By Sing Yee Ong, Elena Mazneva, and Julian Hast US natural gas futures surged about 75% in three days, rocketing to the highest price since 2022, as frigid weather sweeps across major markets for the heating fuel and forces traders to cover bearish positions. More than 175 million people across the country will face snow, …
Natural Gas Soars 75% in Three Days as Arctic Cold Grips the US Read More »
