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…
In Germany, solar power can offset the falling wind speed
In France, the baseload electricity prices were flat in comparison to the previous week. The lower wind supply that was expected across the region on Tuesday should be offset by a higher solar supply in Germany. LSEG data shows that the French baseload electricity price for Tuesday at 0855 GMT was 47 euros ($53.97 per megawatt-hour (MWh), the same as it was on Monday.
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.
Ukraine Approves Gas Import Via Transbalkan Pipeline To Avoid High Transit Fees
Ukraine's energy regulator has approved a gas import mechanism that will avoid high transit fees when supplying gas through the Transbalkan pipeline from Greece to Ukraine, the Ukrainian energy ministry said on Tuesday.Ukraine has faced a serious gas shortage since a series of devastating Russian missile strikes this year, which significantly reduced domestic gas production.Ukraine now imports gas via Slovakia and Hungary…
The US claims that there are significant oil and gas reserves in Wyoming.
The U.S. Interior Department announced on Wednesday that a new federal assessment identified significant oil and gas reserves in Wyoming, Utah, and Colorado which are technically recoverable but have not yet been discovered. Interior Department announced on Wednesday. The U.S. Geological Survey's Mowry Composite Total Petroleum System, which is also known as the Mowry Composite Total Petroleum System…
Indonesia offers three new oil blocks
An official from the Energy Ministry said that Indonesia has opened a new round of oil-and-gas block tenders, and offered three new blocks to contractors. This is part of efforts to increase energy supplies. Indonesia's oil production has declined over the last decade as reserves have been depleted. The government has promised to offer dozens more blocks in the coming years in order to reverse this trend.
Spot prices expected to rise due to falling renewable energy supplies
The strong decline in wind and solar energy supply across the region is expected to exert bullish pressure on spot contract prices on Monday, while three unplanned outages and two planned ones will reduce French nuclear availability. LSEG data shows that the German and French baseload power prices for Monday were not traded by 0923 GMT. Riccardo Paraviero…
Want to reduce your trade surplus with Trump Russell
There are certain trends that will likely emerge amid the chaos and confusion created by U.S. president Donald Trump's global tariff rollout and retreat. One is that countries looking to make a deal will purchase more U.S. products in order to reduce their trade surpluses. Even relative successes like Boeing aircraft highlight the lack of U.S. products that are competitive.
Want to reduce your trade surplus with Trump Russell
There are certain trends that will likely emerge amid the chaos and confusion created by U.S. president Donald Trump's global tariff rollout and retreat. One is that countries looking to make a deal will purchase more U.S. products in order to reduce their trade surpluses. Even relative successes like Boeing aircraft highlight the lack of U.S. products that are competitive.
Kazakhstan will quickly adjust to OPEC+ quota
The Energy Ministry announced on Wednesday that Kazakhstan would quickly adjust its output to bring it back into line with the OPEC+ quota, after exceeding its limit in February. OPEC had said that Kazakhstan contributed the most to a significant increase in crude production by OPEC+ for February. In February, Kazakhstan produced 1.767 millions barrels of crude oil per day. This is up from 1.570 in January.
UAE's ADNOC CEO pledges US gas investment
ADNOC's international investment arm will begin investing in U.S. Natural Gas in the next few months, according to ADNOC CEO Sultan Al Jaber. The UAE is a part of OPEC+ and is one of the top oil producers in the world. ADNOC’s wholly owned international investment arm XRG, which has assets of about $80 billion, reported last week that the UAE is considering options for a XRG IPO.
UAE's ADNOC CEO pledges US gas investment
ADNOC's investment arm will begin investing in U.S. Natural Gas in the next few months, according to ADNOC CEO Sultan Al Jaber. The UAE is a part of OPEC+ and one of world's largest oil producers. ADNOC’s fully-owned investment unit XRG, which has assets worth about $80 billion, reported last week that the UAE is considering options for a XRG IPO.
Spot prices rise due to lower German solar power
The European spot electricity prices for Wednesday increased on Tuesday, as the German solar power shortage was expected to be greater than gains from wind power and lower demand. German day-ahead electricity gained 1.2% at 0912 GMT to 125.75 Euros per Megawatt Hour. LSEG data shows that the French baseload rate for the day to come was up 10.4%, at 109.60 Euro/MWh.
Japan adopts new policies on energy, climate and industry through 2040
The Japanese government approved new targets on Tuesday to reduce the country's emissions of greenhouse gases through 2040. It also approved a revised energy policy and updated industrial policies for the same time period. The measures are aimed at enhancing long-term stability of policy for businesses. They focus on decarbonisation and ensuring stable energy supplies…
Egypt, Cyprus sign gas export deals, boosting Eastern Mediterranean energy cooperation
Egypt and Cyprus signed an agreement on Monday that allows the export of natural gas from Cyprus offshore fields to Egypt, for liquefaction, and then re-export into Europe. Both countries are seeking to strengthen the role of the Eastern Mediterranean as an energy hub. The 2025 Egypt Energy Show deals formalise the long-anticipated plan of linking Cypriot reserves with Egypt's LNG facilities.
Maguire: Recovering wind power may cool Europe's hot gas market
The wind-powered electricity produced in Europe in January 2024 was down by more than 7%, denying regional power producers a vital source of clean energy just as the demand for heating reached its peak. This wind shortage triggered an increase in Europe's natural gas-based electricity generation to its highest level in three years. It also supported…
Hungary: US exemption of gas payments from Russia Gazprombank sanctioned
In a video on social media, Hungarian Minister of Foreign Affairs Peter Szijjarto stated that the United States had granted exemptions for gas payments from the sanctions they imposed against Russia's Gazprombank. The U.S. implemented sanctions against Gazprombank in November, creating a barrier for European gas buyers. Gazprombank was used by buyers to pay for their purchases.
Russia, Pakistan Mull Energy Exploration JV
Russia and Pakistan discussed cooperation on oil and gas offshore exploration and refining at intergovernmental meetings this week in Moscow, the Interfax news agency reported, citing Russia's deputy energy minister.Talks also covered the prospect of Russia supplying Pakistan with crude oil and grains, according to the report."Yesterday we received…
Biden's DoE LNG Export Study Tepid on New Permits
The administration of U.S. President Joe Biden released a long-awaited study on the economic and environmental impacts of liquefied natural gas exports on Tuesday, saying the results underscored the need for a cautious approach to new permits.Biden in January had paused the Department of Energy's approvals of U.S. LNG exports to big consumers in Asia and Europe so that his administration could conduct the review…
More wind and lower demand causes spot prices to fall
European power prices fell on Thursday, as the main German market was expected to have more wind energy and demand in the area had slowed down ahead of the weekend. LSEG data shows that German baseload power for the day ahead was 17.1% lower at 87 Euros ($91.69), while still remaining at multiple-week highs. The French equivalent contract was…
