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India looks for alternative energy sources amid Strait of Hormuz disruption
A government source revealed on Tuesday that India is looking for alternative sources of crude oil, liquefied petroleum and natural gas in order to be prepared if the conflict in the Middle East continues for more than 15 days. The shipping through the Strait of Hormuz, between Iran…
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The number of forward contracts on the U.S./Iran conflict has increased by more than a month
European forward power contracts hit multi-month highs 'on Tuesday. They tracked higher natural gas prices and oil as the U.S. - Iran conflict intensified following the 'Tehran targeting of ships passing through the Strait of Hormuz. Some energy infrastructures were closed. Around 20% of all liquefied gas in the world transits the Strait of Hormuz.
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Iraq Cuts Oil Output With Possible Further Reductions
Iraq has cut oil production by nearly 1.5 million barrels a day and those cuts could widen to more than 3 million bpd within days as the country runs out of storage and cannot export crude due to the Iran crisis, two Iraqi oil officials told Reuters on Tuesday.As of Tuesday, Iraq has cut production from the Rumaila oil field by 700,000 bpd, from th
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Global Energy Prices Jump as Middle East Crisis Interrupts Shipping, Oil Production
Global oil and gas prices jumped on Tuesday as the U.S.-Israeli war on Iran halted energy exports from the Middle East, with Tehran attacking ships and energy facilities, closing navigation in the Gulf and forcing production stoppages from Qatar to Iraq.The benchmark Brent crude oil contract gained nearly 8% on Tuesday to above $83 per barrel…
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Russian Oil Exports Curtailed By Drone Attacks, Weather
Russia has been unable to capitalize on this week's surge in global crude prices, as days of Ukrainian drone attacks and harsh winter storms have sharply curtailed its capacity to export oil, industry sources said.Russia's Sheskharis oil terminal in Novorossiysk port suspended oil…
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US considers oil tanker insurance to ease Middle East crude shipping, sources say
Two sources say that U.S. president Donald Trump will review on Tuesday a number of policy options to control energy prices…
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Sudan accuses Ethiopia of involvement in civil war for the first times
Sudan accuses Ethiopia of allowing drones launched from Ethiopia to attack 'Sudan in February and March. This is the first…
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US-Israeli War on Iran Causes Major Oil, Gas Disruptions
The U.S. and Israel war against Iran has caused oil and gas exports to be disrupted from the Middle East, and production…
Latest news
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EU pushes for green steel, a scarce metal, to fix auto emissions
Buy expensive steel that is made using a "nascent" technology powered by green hydrogen, which barely exists? Under European Union plans…
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TSX drops nearly 4% amid inflation fears fueled by Middle East conflict
Canada's main index of stocks fell on Tuesday, as the Middle East conflict entered its 4th day. This was due to sector-wide losses.
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Venture Global shares soar after court rejects Shell’s challenge to LNG ruling
Venture Global's shares jumped by more than 8% Tuesday, reaching their highest level since 10 October after a New York court…
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Brent oil prices continue to rise amid Iran conflict with Brent reaching a 19-month high
The price of crude oil rose by about 7% Tuesday. This is the third time that oil prices have risen in a row. As the U.S./Israeli…
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Venture Global shares soar after court rejects Shell’s challenge to LNG ruling
Venture Global soared 17% on Tuesday in premarket trading after a New York court denied Shell's request for an arbitration…
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Russell: China imports most energy but has the best position on Iran
China is the largest energy importer in the world and would appear to be vulnerable to the rise in crude oil and gas prices…
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Draft shows EU scraps steel emission label from "Made in Europe" law
A draft proposal revealed that the European Union had scrapped plans to include an emissions label for steel in its "Made -in Europe" legislation.
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Palm extends its rally for third session as it tracks rivals and higher crude
The price of Malaysian palm oil futures rose for the third consecutive session on Tuesday. They settled at their highest level in nearly four weeks.
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Allianz GI acquires a 50% stake in German battery projects from TotalEnergies
TotalEnergies, the French oil giant, has sold to Allianz Global Investors a 50% share in?11 batteries projects in Germany that are under construction.
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The price of oil is rising as the US-Israeli war against Iran escalates supply risks
Brent rose by more than $3 Tuesday, marking a third consecutive day of gains. The U.S. - Israel conflict?with Iran?and threats…
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Sources: India cuts gas supply to industries following Qatar outage
Four industry sources said that Indian companies reduced their natural gas supply to industries on Tuesday in anticipation…
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Palm oil rises for a third session and follows rivals who are firmer, while crude is higher
The price of Malaysian palm oils futures rose for the third time on Tuesday. This was due to the rise in crude oil prices…
Shale Oil & Gas
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EUROPE GAS-European Gas Prices soar by more than 40% due to LNG Supply Fears
The benchmark Dutch and British gas price rose by more than 40% in the morning of Tuesday, as fears about supply grew after…
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Sources: India cuts gas supply to industries following Qatar outage
Four industry sources with knowledge of the situation said that Indian companies reduced their natural gas supply to industries…
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The price of oil is rising as the US-Israeli war against Iran escalates supply risks
Brent rose by more than $3 Tuesday, marking a third consecutive day of gains. The U.S. - Israel conflict?with Iran?and threats…
LNG
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Cheniere Raises Share Repurchase Target After Q4 Profit Doubles
Cheniere Energy said its fourth-quarter profit more than doubled on strong liquefied natural gas (LNG) demand and the company…
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Trinidad's Atlantic LNG Shuts Down Train 4 for Maintenance
Trinidad and Tobago's flagship Atlantic LNG plans to shut its 6 million metric ton per annum Train 4 for up to 50 days in…
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Norway Parliament Rejects Challenge to LNG Plant's Power Supply Plan
Norway's parliament on Thursday rejected a proposal to block Equinor's plan to supply electricity to its Hammerfest liquefied natural gas (LNG) plant
Renewables
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Palm extends its rally for third session as it tracks rivals and higher crude
The price of Malaysian palm oil futures rose for the third consecutive session on Tuesday. They settled at their highest level in nearly four weeks.
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Allianz GI acquires a 50% stake in German battery projects from TotalEnergies
TotalEnergies, the French oil giant, has sold to Allianz Global Investors a 50% share in?11 batteries projects in Germany that are under construction.
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Palm oil rises for a third session and follows rivals who are firmer, while crude is higher
The price of Malaysian palm oils futures rose for the third time on Tuesday. This was due to the rise in crude oil prices…