Oil prices fell 3% on Tuesday on bearish IEA data and a strong dollar after posting small gains on Monday.• The March 2011 nuclear meltdown in Japan led to the country’s shuttering of its entire nuclear fleet, or 54 nuclear reactors. Now there are five reactors that have received approval for restart, with three of them currently operating. • There are a further 21 reactors under review for a restart. • The 2011 catastrophe had far-reaching effects, beyond Japan’s electricity sector. Japan needed to replace its lost power with imported gas, coal and oil. Japan’s need for imports drove up LNG prices in Asia, contributing to an export frenzy in the U.S. • The restart of so many reactors would be hugely bearish for global LNG prices, and although to a lesser […]