EQT Corp. signs 20-year LNG contract with Commonwealth LNG Louisiana facility
The companies announced on Monday that the U.S. energy company EQT Corp would purchase 1 million tonnes of liquefied gas per year (mtpa), from Commonwealth LNG’s planned export facility on the Gulf Coast, near Cameron, Louisiana. EQT will purchase the LNG at a fixed price indexed by Henry Hub, and market and optimize their cargos on an international level. The company stated that the additional export capacity would allow EQT's domestic direct-to customer strategy to be expanded into global energy markets. Commonwealth LNG has been in the news this week. The U.S.
Danish trader InCommodities has appointed Gunvor's Brockmeyer as its U.S. expansion manager
Rich Brockmeyer, former Gunvor executive, was appointed as the new CEO of InCommodites for North America. The group plans to increase its penetration into the U.S. gas and power market. Brockmeyer, who most recently served as the Executive Committee member of energy trader Gunvor and oversaw North American power and natural gas operations, will join InCommodities on September 2. InCommodities, the trading firm, will establish a new office in Stamford, Connecticut and supervise the expansion of its U.S. Gas and Power Trading Desk.
Asian Spot LNG Prices Decline, Weak Demand Amidst Sanctions
Asian spot liquefied natural gas (LNG) prices declined this week due to weak demand and as markets awaited further clarity on U.S. Russian energy sanctions or secondary tariffs.The average LNG price for September delivery into north-east Asia LNG-AS was at $11.90 per million British thermal units (mmBtu), down from $12.10/mmBtu last week, industry sources estimated.Spot global gas prices have been relatively rangebound since the start of summer gas season in April…
IEA forecasts the fastest increase in power demand since more than a decade
The International Energy Agency announced on Wednesday that global electricity demand will increase at the fastest rate in more than a decade. This is due to increased industrial use, data centres, and electric vehicles. The International Energy Agency said that demand will rise by 3.3% between 2025 and 2026. This is well above the 2.6% seen from 2015 to 2023. Investments are needed in grids and storage, as well as making the system more flexible. The IEA stated that renewable energy will overtake coal by 2025…
Indian Energy Exchange closes due to fears of increased competition by new pricing rules
Investors grew worried that a planned overhaul in electricity pricing would increase competition and erode IEX's dominant position on the market. IEX, India's most popular platform for determining spot electricity prices, is under pressure from the power regulator as it prepares to implement market coupling in January, in a gradual rollout. Other power exchanges can also play a role as market couplesrs under the new system. This will challenge IEX’s central position. Stocks were on course for their seventh session of consecutive losses.
India will begin market coupling of power exchanges in January
India's electricity regulator announced on Wednesday that it would begin to implement market coupling for electricity trading in phases from January. Market coupling is a model of economics used on energy markets in order to create a uniform, single price for electricity across multiple trading platforms. The regulator is taking this action to improve price discovery and the efficiency of the system. In an order, the Central Electricity Regulatory Commission said that all power exchanges' day-ahead markets will be linked using a single system.
India will begin market coupling of power exchanges in January
India's electricity regulator announced on Wednesday that it would begin to implement market coupling for electricity trading in phases from January. Market coupling is a model of economics used on energy markets in order to create a uniform, single price for electricity across multiple trading platforms. The regulator is taking this action to improve price discovery and the efficiency of the system. In an order, the Central Electricity Regulatory Commission said that all power exchanges' day-ahead markets will be linked using a single system.
India's MCX launches electricity futures to hedge against weather-driven demand changes
The Multi Commodity Exchange in India will launch India's first electricity contracts on Thursday. This tool allows power generators, distributors and large industrial users to manage their risk. MCX announced in a Tuesday statement that the exchange would initially offer cash-settled contract for the current three-month period and for the next three months. However, they will be made available thereafter for all twelve calendar months. Praveena Rai, the managing director of the exchange…
As Wars Rage, Middle East's Waning Influence on World Oil Prices Exposed
The contained move in oil prices during the Israel-Iran war highlights the increasing efficiency of energy markets and fundamental changes to global crude supply, suggesting that Middle East politics will no longer be the dominant force in oil markets they once were.The jump in oil prices following Israel's surprise attack on Iran was meaningful but relatively modest considering the high stakes involved in the conflict between the Middle East rivals.Benchmark Brent crude prices…
GRAINS-Chicago Wheat slips as harvest pressure begins; soybeans to gain weekly
Chicago wheat futures retreated on Friday following a rally to cover shorts before the holiday season in the U.S. as harvest pressure in Europe and Black Sea region looms. As of 0211 GMT the most-active contract for wheat fell 0.59%, to $5.87 per bushel. However, it remains close to a four-month-high and is expected to gain weekly. Wheat gained some support during the previous trading day, as weather concerns in certain parts of the U.S.A. and Europe led speculators in those regions to cover their short positions.
Yergin: The next 3-5 days will be critical for the global energy markets if Israel and Iran have a significant development.
The next three to five day developments in the Iran-Israel conflict will be crucial for global energy markets, even though the Gulf oil and gas supply has not been interrupted yet. This was the view of oil historian Daniel Yergin on Wednesday. Iran and Israel launched missile attacks on each other Wednesday, as the air conflict between the two longtime rivals entered its sixth day. This was despite the U.S. president Donald Trump's call for Tehran to "unconditionally surrender" after he had left an early Group of Seven summit over the crisis.
Grain prices are higher as soybeans and crude oil end the day in a positive trend; wheat is up, while corn is mixed
Chicago Board of Trade soybeans futures closed higher Tuesday. This was supported by the rising crude oil price and uncertainty over Midwest crop weather for the coming weeks. Soyoil prices also eased after a two-day sharp rally linked to stronger U.S. Biofuel Blending mandates. Analysts said that CBOT wheat reached a new high after a slow start in the U.S. harvest of winter wheat allowed speculators cover their short positions. After wheat and crude oil futures, corn prices were mostly higher. However, the front-month contract for July ended lower.
Grain prices are up, with wheat and corn both rising.
Chicago Board of Trade soybeans futures rose on Tuesday due to rising crude oil and the uncertainty surrounding Midwest crop weather for the coming weeks. Soyoil prices fell after a two-day sharp rally linked to increased U.S. Biofuel Blending mandates. Analysts said that CBOT wheat reached a new high in a week as the slow start of U.S. winter harvest wheat allowed speculators cover their short positions. Analysts said that corn futures rose mainly after wheat and crude oil. However, the front-month contract for July was under pressure. As of 1:11 p.m.
Prices increase on lower wind energy and wider energy complex
European baseload electricity prices increased on Monday morning, mainly due to the expectation of a lower wind output on Tuesday and gains on other energy markets. The French day-ahead baseload contract jumped 18.40 euros, to 47.50 Euros per Megawatt Hour (MWh), by 0848 GMT. Meanwhile, the German equivalent contract was 90.85 Euros/MWh. The wind power output in Germany will decrease tomorrow, while consumption increases. "The moderate increase in solar output is not sufficient to compensate for the two changes.
Palm snaps its two-day winning streak as rising production and stocks weigh on it
The Malaysian palm futures market ended a two-day streak of gains on Wednesday. This was due to rising production and inventory levels, which weighed heavily on the market. However, stronger edible oils from other countries and positive export data helped limit the decline. The benchmark contract for palm oil delivery in August on the Bursa Derivatives exchange fell 12 ringgit or 0.31% to 3,896 Ringgit ($913.05), a metric tonne, at the close. A Kuala Lumpur…
VEGOILS - Palm up on export data, stronger rival oil, and rising production; stocks, stock gains, and rising output.
The price of Malaysian palm oil futures rose on Wednesday due to higher prices for rival edible oils, as well as relatively positive export data. However, the gains were limited by increasing production and inventory levels. At the midday break, the benchmark palm oil contract on Bursa Derivatives exchange for August delivery had increased by 8 ringgit (0.2%), to 3,916 Ringgit ($917.10) per metric ton. The contract has risen for two sessions in a row. A…
After US tariff pause, prices of gas in Europe rebounded
The prices of Dutch and British gasoline rebounded Thursday, after U.S. president Donald Trump announced a 90-day suspension on tariffs on many trading partners. LSEG data shows that the benchmark Dutch front-month contract increased by 1.5 euros, to 34.70 Euros per megawatt hour or $11.21/mmBtu at 0818 GMT. LSEG data show that the contract reached a low intraday of 32.50 euro/MWh on Wednesday. This was its lowest level since July 2024. The Dutch June contract increased by 2.31 euros to 35.91 Euro/MWh.
Palm oil is gaining to follow Chicago soyoils and crude oil higher
Malaysian palm oils futures climbed slightly higher on Tuesday after three sessions of losses. They mirrored the movement in crude oil, Chicago soyoil and other commodities, but concerns over high Malaysian stocks of palm oil capped gains. At closing, the benchmark palm oil contract on Bursa Malaysia's Derivatives Exchange for June delivery gained 2 ringgit (0.05%) to 4,187 Ringgit ($932.72) per metric ton. Early in the session the contract climbed as high as 2.27%…
Palm oil is gaining to follow Chicago soyoils and crude oil higher
The price of Malaysian palm oils futures rose on Tuesday. This ended a three-session losing streak, boosted by the strength of crude oil, Chicago soyoil and a weaker Ringgit. By midday, the benchmark palm oil contract on Bursa Malaysia's Derivatives exchange rose by 1.15%, to 4,233 Ringgit ($944.87) per metric ton. Fears of an expanding global trade war led to a partial recovery of the 7.5% loss that the contract had suffered over the previous three sessions. Palm oil prices mirror the recovery in the energy markets and U.S.
Nigeria’s Refining Revolution is Reshaping West Africa’s Energy Landscape
The launch of the Dangote Refinery near the Port of Lagos presents an exciting opportunity to transform the energy and shipping markets in West Africa. And it stands to boost Nigeria’s role as an influential player in the global oil industry, fostering economic growth and regional development.Nigeria’s standing in the global energy landscape is getting a boost with domestic refining capacity expanding in 2025. The Dangote Refinery near Lagos presents a…