IGU Executive: Iran War has caused global gas prices to be tightened due to the prolonged Iran war
A top executive in the industry said that global gas markets will continue to 'pricing out' tight supplies despite the fact that winter is still a long way off. The Iran war has disrupted Gulf liquefied gas exports, and Europe’s efforts to rebuild its gas stocks have been complicated by this. As Europe competes against Asia to secure LNG cargoes, it is also trying to fill up storage facilities ahead of the winter. There are still concerns about the impact of the conflict on Qatar's exports, which is one of the largest LNG suppliers in the world.
ROI-LNG spot price surge deters Asian buyers, but saves Europe: Russell
High spot prices are deterring buyers from China and South Asia, resulting in Asia's lowest September imports in eight years. According to data compiled by Kpler, the top-importing continent will see arrivals of?20.09 million tons of super-chilled gasoline in September. This is the lowest figure for this month since September 2018 when 19.88 million arrived. Asia's imports have dropped?from 22.27 millions tons in September of last year and also from 22.25 in August. The slump in Asian LNG demand has freed up cargoes to Europe, where it is struggling to store enough natural gas ahead of the winter.
LNG Prices Projected to Spike; European Stocks Dwindle
Global LNG prices could shoot higher this winter as Europe holds its lowest stocks in years and North Asian buyers face increased competition with the Strait of Hormuz still closed, executives said at an industry conference this week.Europe will enter this winter more vulnerable than usual amid storage levels that are lower than last year, industry executives and analysts said at Gastech in Bangkok.At the same time, the war on Iran has prevented Qatar and the United Arab Emirates from shipping liquefied natural gas through the Strait of Hormuz…
Schedule for US Energy Data in Holiday Week
Labor Day, which falls on Monday Sept. 7, will affect the release of certain?major data in the energy sector scheduled for the month of September. 6 week. The schedule for the release of the U.S. Petroleum, Oil and Natural Gas Supply and Inventory for the Week is below. WEEK OF SEPT. API's weekly Petroleum Stocks Report will be pushed back to Wednesday, September?9, at 4:30 pm EDT (2030 GMT). The report would normally be released on Tuesday. The EIA will release its weekly report on natural gas stocks as usual, Thursday, September 10 at 10:30 am EDT (1430 GMT). Stocks will not be released until Thursday, September 10 at Noon (EDT) (1600 GMT).
The financial week in five charts - Spiking yields; widening spreads; and a long cold winter
Every Friday, Open Interest distills the week's financial data into five charts that highlight the main trends, surprises and overlooked movements. 1. COST OF CREDITIBILITY JAMIE MCGEEVER, ROI Markets: On Wednesday, the 30-year Treasury yield soared to 5.20%, its highest level in almost two decades. The 30-year Treasury yield surged above 5.20% on Wednesday, the highest level in nearly two decades. The markets were less concerned by the Fed's decision to keep rates the same than the Fed Chair's convoluted words, which raised doubts about the Fed's willingness to take necessary steps to bring inflation to its 2% goal.
EUROPE GAS-Prices firm on Iran deal limbo, low gas stocks
The Dutch and British wholesale gas contracts firmed up slightly on Friday, as a U.S. - Iran peace'memorandum' still needs final approval at the top level. Also, Europe is struggling with its weak storage outlook. Data from the Intercontinental Exchange showed that the benchmark Dutch front-month contract was trading at 47.60 Euro per megawatt hour at 0824 GMT. This is an increase of 0.63 euros. The British front-month contracts increased by 1.56 pence to 114.99 pence a?therm. Dzmitry Dzmitryalevich, LSEG analyst, said that "geopolitics is expected to drive today's market." Prices were volatile 'this week…
Schedule for US Energy Data in Holiday Week
The Memorial Day federal holiday, which falls on Monday, 25th May?will impact the release schedule for?some of the major energy data that will be released during 'the week of May 24?. Here is the schedule for the weekly release of U.S. oil, gas and petroleum supply. API's Weekly Petroleum Stocks Report will be?delayed to Wednesday, 27th May at 4:30 pm EDT (2030 GMT). Reports are normally released every Tuesday. The EIA will release its weekly report on natural gas stocks as usual, Thursday, May 28th at 10:30 am EDT (1430 GMT). The EIA will delay its?weekly stock report on crude oil, gasoline, and distillate until Thursday, May 28, at Noon EDT (1600 GMT).
Equinor: Europe's gas reserves could be critical if Hormuz is closed for 1-3 months
Equinor executives said that Europe could face a critical shortage of gas stocks if the disruption in shipping through 'the Strait of Hormuz' lasts for one to three more months. Low inventories and distorted pricing slow down stockpiling. Gas caverns, tanks and cylinders are only 35% or more full in Europe, which is below the seasonal norm of 50%, according to data from Gas Infrastructure Europe. To meet the EU's 90% storage goal between October and December, member states must build a buffer during the summer in the northern hemisphere.
Europe's response in the face of Iran war energy crisis
On Wednesday, the European Commission released a set of measures to counter the rising energy prices. This comes as countries deal with the greatest shock in energy market history - the Iran War. The European Union has a plan. The EU's proposals are centered on reducing the reliance on fossil fuels, in order to protect against future price increases and disruptions of supply. The Commission announced plans on Wednesday to alter EU tax rules to tax electricity lower than natural gas. This confirms draft plans reported previously by. This…
Europe's response in the face of Iran war energy crisis
On Wednesday, the European Commission will release a package of actions to counter the soaring energy prices. This comes as the world grapples with the greatest shock in energy market history - the war against Iran. The European Union has a plan to respond. The EU's proposals are centered on reducing the reliance on fossil fuels to protect against price spikes and disruptions in supply. According to an earlier draft of the Commission plan, it will "set out plans" to change EU tax laws to ensure that 'electricity' is taxed lower than fossil fuels.
Oil prices plunge on Iran ceasefire, causing European energy stocks to fall
After weeks of gains, European oil and gas stocks fell sharply Wednesday. Equinor, a Norwegian company, led the declines, falling 13%. It was followed by its domestic competitors Var Energi and Aker BP, who had benefitted from the disruptions in Qatar's gas flow after the closure of the Strait of Hormuz. TotalEnergies, France, BP and Shell in Britain, Eni and?Italy were all around 6%-9% down. Oil prices fell after U.S. president Donald Trump announced that Washington had agreed to an?armistice? with Iran for two weeks, subject to the safe and immediate reopening of?Strait of Hormuz. WTI fell 15% and Brent futures dropped 13%, while WTI was down $95.0 per barrel.
METI does not see any need for an emergency LNG supply, despite the fact that Japanese utilities have increased their LNG reserves
The Ministry of Economy, Trade and Industry said that major Japanese utilities have increased their liquefied gas stocks by 10% to?2,19 million metric tonnes last week. The LNG stocks of Japan's utilities, the second largest LNG buyers in the world, equaled around 12 days domestic consumption for the week ending March 1. The LNG stockpiles of utilities in Japan, the world's second-largest LNG buyer, are equal to around 12 days domestic use for the week ending on March 1. Only 6% of Japan's total LNG imports come from the Middle East, specifically Qatar, Oman, and the United Arab Emirates. The Strait of Hormuz has been closed since the U.S. attack on Iran.
Prices for EUROPE Gas remain firm as tensions between the U.S. and Iran continue
Dutch and British wholesale natural gas prices rose on Friday morning after a sharp increase in the previous session. This was due to tensions between Iran and the United States that could impact the shipping of LNG. Gas market concerns are any possible disruptions of LNG shipments via the Strait of Hormuz. This is especially true for Qatar, the second largest gas supplier in the world. In intraday trading on Thursday, the Dutch front-month contract jumped as high as 16%. Data from LSEG shows that the last time a price rose more than 27.54% in a single day was on Aug. 9, 2023, due to fears of 'Australian LNG strikers.
Schedule for US Energy Data in Holiday Week
The Presidents Day federal holidays on Monday, 16th February will affect the release schedule for?some of the major energy data that is to be released during?the week of February 15th. The schedule below shows the U.S. supply of petroleum, oil, and natural gas for each week. API's Weekly Petroleum Stocks Report will be?delayed to Wednesday, 18th February at 4:30 pm EST (2130 GMT). The report would normally be released on Tuesday. The EIA will release its weekly report on natural gas stocks as usual, Thursday, February 19th at 10:30 am EST (1530 GMT).
Prices of gas in Europe rise amid lower wind power generation
On Thursday morning, the benchmark British and Dutch wholesale gasoline prices increased due to lower wind generation. The benchmark Dutch contract at the TTF hub for March was up 0.92 euros to 34.38 euros per megawatt hour or $11.89/mmBtu by 0911 GMT. The price of MWh in?Q2 was 31.00 euros/MWh, up by 0.82. The day-ahead contract in the British market rose 1.48 pence to 84.38p/therm. The wind power production in North-West Europe is lower than normal, which supports the demand for gas generated by power plants. LSEG data indicated that temperatures will be colder from February 13 onwards.
Schedule for US Energy Data in Holiday Week
The Martin Luther King Jr. federal holiday, which falls on Monday January 19, will impact the schedule for releasing some of the major energy data that was scheduled to be released during the week ending January 18. The schedule below shows the U.S. Petroleum, Oil and Natural Gas Supply and Inventory for each week. API's Weekly Petroleum Stocks Report will be?delayed to Wednesday, 21st January at 4:30 pm EST (2130 GMT). The report would normally be released on Tuesday. EIA will release its weekly report on natural gas stocks as usual, Thursday, January 22 at 10:30 am EST (1530 GMT). ENERGY INFO?
Schedule for US Energy Data in the week of Nov. 23
Thanksgiving Day, which falls on Thursday November 27, will impact the schedule for the release of major energy data during the week beginning Nov. 23. The schedule below shows the weekly release of the U.S. Petroleum, Oil and Natural Gas Supply and Inventory. WEEK OF 23 NOV. API's weekly report on petroleum stocks will be released, as per usual, on Tuesday 25th November at 4:30 pm EST. The EIA will release its weekly report on crude oil, gasoline, and distillate stocks as usual, Wednesday, November 26 at 10:10 a.m. (EST) (1530 GMT). The EIA will release its weekly report on natural gas stocks one day early, on Wednesday, November 26 at Noon (1700 GMT).
Demand increases and spot prices increase sharply as renewables decline.
The price of European prompt electricity rose on Wednesday as the wind and solar energy generation declined while the colder weather pushed up demand. Riccardo Paraviero, LSEG analyst, said that the future outlook was bullish. The main signal is a significant increase in residual load in Germany. LSEG data shows that the French day-ahead contract rose by 175% compared to its previous close of 55.0 euros (64.14 dollars) per megawatt at 0820 GMT. The German equivalent of the position was not traded, but it was bid at 109 Euros/MWh after closing at 95.8 Euros/MWh.
Shell Finance Chief flags unpredictability in the timing of global LNG supply
Shell, the largest LNG trader in the world, announced on Thursday that there is uncertainty regarding the long-term supply of LNG due to the uncertain timing of new LNG projects around the globe. Shell CFO Sinead Gorman's comments suggest caution, as forecasts indicate ample LNG supplies in the future. However, she wasn't concerned by the European Union’s decision this month to prohibit Russian liquefied gas (LNG), imports, from January 2027. This is a year sooner than originally planned. According to some estimates, LNG supply will have risen by many times by 2030, mainly due to the U.S.A. and Qatari volumes.
SNB divests from extractive industries with new divestment.
Swiss National Bank sold its stake in Anglo Australian miner Rio Tinto, adding to a recent series of divestments by companies in the extractive industries. LSEG data show. Unsere (Our) SNB is a group of 200 SNB shareholders that includes environmental groups. They claim the Rio Tinto divestment represents the entire stake in the SNB and values it at $227 millions. The SNB sold the 3.8 millions shares between June 2 to July 21. Rio Tinto and SNB declined comment. According to an analysis of LSEG company filings based on data, the SNB sold oil and gas stocks worth more than twice what it invested in the sector since 2024.