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U.S. natural gas futures gained about 3% to a 14-week high on Monday on forecasts for higher demand over the next two weeks than previously expected as feedgas to liquefied natural gas (LNG) export plants increased with the return of Freeport LNG in Texas. Prices were also supported by an ongoing decline in output. Front-month …
US Natgas Prices up 3% to 14-Week High on Rising Demand for LNG Feedgas Read More »
The U.S. has sufficient supply of oil in the Strategic Petroleum Reserve to address any supply concerns and is monitoring markets on how to use it, Amos Hochstein, President Joe Biden’s energy adviser, said on Monday. The SPR is still near 40-year lows after Biden directed the largest ever sale of 180 million barrels from …
Summary Israeli forces take control of vital Rafah crossing US crude and product inventories expected to have fallen Saudi Arabia raises official selling prices in June LONDON, May 7 (Reuters) – Oil steadied on Tuesday as weakness in the physical market countered concern about conflict in the Middle East as Israel stepped up attacks in …
Oil Steadies as Weak Physical Markets Balance Middle East Tensions Read More »
The amount of natural gas flowing to Freeport LNG’s export plant in Texas rose to a two-month high on Sunday in what energy traders said was another sign that the plant was wrapping up a series of outages over the past month or so.The startup and shutdown of Freeport and other U.S. liquefied natural gas …
U.S. Natgas Flows to Freeport LNG in Texas Rise to 2-Month High – LSEG Read More »
U.S. energy major Exxon Mobil’s arbitration over Chevron’s plans to buy Hess’s Guyana oilfield stake will extend into 2025, Exxon CEO Darren Woods said to CNBC in an interview, souring expectations of a resolution this year. Exxon and CNOOC Ltd filed cases before the International Chamber of Commerce in March, seeking the right-of-first-refusal over any sale of Hess’s …
Chevron Arbitration to Go Into 2025, Exxon CEO Woods Tells CNBC Read More »
Pipeline exports to Europe have slumped, turning focus to LNG Novatek’s Arctic LNG 2 is crucial to expanding export capacity Bloomberg Russia’s fortress economy has proved remarkably resilient to an onslaught of Western sanctions. Two years after the Kremlin’s invasion of Ukraine, it continues to fund a costly war and to prop up President Vladimir Putin. …
How Western Sanctions Are Strangling Putin’s Arctic Gas Ambitions Read More »
May 3 (Reuters) – U.S. energy firms this week cut the number of oil and natural gas rigs operating for a second week in a row, to the lowest since January 2022, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and gas rig count, an early indicator of …
U.S. Oil and Gas Rig Count Falls to Lowest Since January 2022 – Baker Hughes Read More »
Summary Prospects for Israel-Hamas truce narrow Saudi Arabia hikes June crude oil prices for most regions China’s April business sentiment rises, data shows (Reuters) – Oil futures climbed on Monday after Saudi Arabia hiked June crude prices for most regions and as the prospect of a Gaza ceasefire deal appeared slim, renewing fears the Israel-Hamas …
Oil Climbs as Gaza Tensions Rise, Saudi Arabia Hikes Prices Read More »
Summary OPEC+ could extend supply cuts beyond June, sources say US job growth weaker than expected in April US drillers cut oil and gas rigs for second week in a row NEW YORK, May 3 (Reuters) – Oil prices settled lower on Friday, and posted their steepest weekly loss in three months as investors weighed …
Oil Settles Down on U.S. Jobs Data, Steepest Weekly Loss in 3 Months Read More »
Saudi Arabia and its allies in OPEC+ are likely to keep oil production unchanged for a further three months when ministers review output allocations on June 1. The tightening of petroleum supplies and depletion of inventories widely anticipated at the start of the year has failed to materialise so far. If OPEC+ (Organization of the …
