EUROPE GAS - European prices rise from 18-month lows as cold weather looms
The Dutch and British gas price rose on Friday morning from a low of 18 months, which was reached a day before. This is because temperatures are expected to drop sharply in the coming week, increasing demand for energy, which should lead to a rise in gas storage withdrawals. LSEG…
EUROPE GAS-European gas prices continue to ease on mild and windy weather
The British and Dutch gas contract eased further Friday, after a steep fall the day before, due to forecasts of mild weather and windy conditions in Europe over the next two week. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell 0.19 euros to 30.90 Euro per megawatt hour (10.48/mmBtu) at 1010 GMT.
US and Qatar fill the gap left by EU's ban on Russian LNG imports
PARIS/LONDON - According to analysts and data, the European Union can replace Russian LNG imports from 2027 with an alternative supply without any major price shocks. This is due to booming projects being undertaken in the United States of America and Qatar. The EU approved new sanctions on Russia Thursday for its conflict in Ukraine.
China Suspends Russian Oil Purchases Due to Sanctions
Chinese state oil majors have suspended purchases of seaborne Russian oil after the United States imposed sanctions on Rosneft and Lukoil, Moscow's two biggest oil companies, multiple trade sources said on Thursday.The move comes as refiners in India, the largest buyer of seaborne Russian oil…
As US onshore oil growth slows, will improved drilling boost Gulf of Mexico offshore oil production?
Analysts and consultants predict that offshore investment will continue to grow as new technology and more friendly regulations encourage investment. In recent years, the offshore oil and natural gas sector has been overshadowed by shale because it requires more upfront investment and years of construction.
China builds oil reserves in response to a stockpiling campaign
China has been building oil reserves at an accelerated pace as part of its campaign to increase crude stocks. This urgency increased after Russia's invasion of Ukraine disrupted global energy flows. It also accelerated in this year according to traders, industry experts and public data.
EUROPE GAS-European Gas prices are soaring as rising Norwegian supply offsets colder weather
Dutch and British gas traded within a narrow range Monday morning as temperatures below normal were offset by an increase in Norwegian production. LSEG data shows that the benchmark Dutch front-month contract was 32.25 euros per Megawatt Hour (MWh) or $11.070/mmBtu at 0820 GMT. This is a decrease of 0.35 euros.
EUROPE GAS-European Gas Prices Firm as Weather and LNG Strikes Offset Rising Norwegian Supply
The Dutch and British gas price rose slightly on Friday, but they remain within the recent range. This is because the end of maintenance season in Norway has increased supply while strikes in France have curtailed LNG deliveries. LSEG data shows that the benchmark Dutch front-month…
Thailand sets record for annual drop in power output and LNG imports
Thailand's electricity production is expected to drop by a record amount this year due to a mild winter and a slowed economy, according government data. This will result in Southeast Asia’s largest LNG importer experiencing its steepest fall in fuel purchases. Official data revealed…
Prices for EUROPE GAS are on the decline due to increased wind and LNG supplies
Dutch and British wholesale prices of gas fell on Friday morning, as a higher wind output is expected to begin Monday. Also, the supply of liquefied gas (LNG), was also increasing. LSEG data shows that the benchmark Dutch front-month contract for the TTF hub fell by 0.33 euros to 32.05 Euro per megawatt hour at 0815 GMT.
The US cuts to oil jobs and expenditure threaten the output growth
Due to the lower oil price and the largest consolidation in the last generation, the U.S. Oil industry has cut thousands of jobs and billions of dollars in spending. This could be the end of rapid growth in output that made the U.S. world's leading producer. Organization of the Petroleum…
Chinese Refiners Purchase 15 Cargoes of Russian Oil, Indian Demand Falls
Chinese refineries have purchased 15 cargoes of Russian oil for October and November delivery as Indian demand for Moscow's exports falls away, two analysts and one trader said on Tuesday.India has emerged as the leading buyer of Russian seaborne oil, which has sold at a discount…
Prices of EUROPE GAS trade at a sideways level as the market waits for clarity on sanctions
The wholesale gas prices in the Netherlands and Britain were not much different on Friday morning, as the market awaited news about whether the U.S. would impose new sanctions against Russia. LSEG data shows that the benchmark Dutch front-month contract was 32.92 euros per Megawatt Hour (MWh), or $11.20/mmBtu at 0728 GMT.
Prices for gas in Europe remain stable as global demand and outages support prices
Dutch and British wholesale prices for gas were mostly flat on Friday morning. Outages and worries about a tighter market globally supported the price, but this was partly offset by an increase in wind power production that will reduce demand for gas powered power next week. LSEG…
Malaysia increases coal power production and imports to meet growing demand
Malaysia has increased its coal-fired electricity production and imported the fuel in record numbers, according to a data analysis. The country is taking advantage of the low prices, but also pledges to use more gas-fueled electricity generation over the long term. Malaysia is the 5th largest exporter of liquid natural gas…
Malaysia increases coal power production and imports to meet growing demand
A data analysis showed that Malaysia was boosting its coal-fired electricity output and importing fuel at record-high levels. It is taking advantage of the low prices, even though it has pledged to increase the use of gas-fuelled power generation on a longer-term basis. Southeast Asia's nation is the 5th largest exporter of liquid natural gas…
China's naphtha imports will reach record levels in 2025 due to new plants and US trade concerns
Analysts and traders predict that China's imports of naphtha will reach record levels in 2018. New plants and the caution about U.S. propane, ethane and ethane will support demand for this petrochemical feedstock and improve refiners' margins. Sources said that cracker operators at the world's biggest petrochemical company…
Sources say that OPEC+ is set to increase oil production again in August.
Four delegates from OPEC+ said that the world's largest oil producer group, OPEC+ is planning to announce a production increase of 411,000 barrels a day for August in order to regain market shares. If the agreement is reached, the increase in supply by OPEC+ would be 1.78 million bpd, which is equivalent to more than 1.5% of the global demand.
Prices of gas in Europe are on the rise as temperatures increase.
The Dutch and British wholesale prices of gas were not much different on Friday morning, as the warmer temperatures reduced demand while supply from Norway increased. LSEG data shows that the benchmark Dutch front-month contract was 36.08 euros per Megawatt Hour (MWh), or $11.99/mmBtu at 0800 GMT. This is a decrease of 0.27 Euro.
The price of gas in Europe is rising due to cooler weather and competition from Asia
Dutch and British wholesale prices for gas rose early on Friday, amid forecasts that demand would increase as temperatures cool and to stay competitive with Asian buyers of LNG. According to LSEG, the benchmark Dutch front-month contracts was up 0.70 euros at 32.80 Euro per Megawatt Hour (MWh), which is $10.88/mmBtu by 0811 GMT.