Oil Prices On Track For First Quarterly Loss Since 2020
Oil prices are on course for their first quarterly loss since 2020, with recession fears driving prices down to an eight-month low last week. There is some upside potential for Continue Reading
Gas Prices Like a Leaf in the Wind
Current energy crisis forces intensified this week. Gas prices appear like a leaf in the wind, with little indication on how far they will be carried and in what direction. Continue Reading
Oil drops on dollar strength, but OPEC+ talks offer support
Oil prices fell on Thursday, with a stronger dollar paring the previous day’s more than $3 gain, though losses were capped by indications that the OPEC+ producer group might cut Continue Reading
Major Commodity Trader Sees Looming Oil Price Spikes
Recession fears have dragged crude prices down $40 from their peak earlier this year. Reduced liquidity has made any price moves even more volatile. Trafigura’s Chief Economist thinks that the Continue Reading
Where Will WTI Crude Oil Price Be at End-2022?
Executives from 159 oil and gas firms offer their views. The West Texas Intermediate crude oil price will be $88.74 per barrel at the end of the year. That was Continue Reading
IEA: LNG Market To Be Even Tighter In 2023
The global liquefied natural gas market could be even tighter next year compared to already tight LNG markets in 2022, Fatih Birol, Executive Director of the International Energy Agency (IEA), Continue Reading
Iran strikes opposition targets deep in Iraqi Kurdistan
Iran’s military operations against opposition groups in Iraqi Kurdistan escalated sharply on Wednesday as it launched three sets of drone and missile attacks deep inside Iraqi territory, killing at least Continue Reading
Long road ahead for restoring global corn supply hit by weather, war
High prices, tight supply, poor China demand hit exports Brazil may deliver record corn crop in MY 2022-23 Dryness seen delaying early planting in Argentina this year Global corn supplies Continue Reading
The World Sees Brazil’s Election as a Climate Flashpoint. Brazilians Have Other Concerns
Lula, the favorite against Bolsonaro, is promising to reverse rainforest-destroying policies and protect the climate. He’ll also have to keep the country from going hungry. At the edge of the Continue Reading
Argentina’s shale output to stall amid bottlenecks, analyst warns | Reuters
Activity levels are at all-time highs in Argentina’s prime region for oil and gas production, but equipment and transport bottlenecks are limiting its growth, energy executives said on Thursday at Continue Reading
Japan’s dependency on Middle East crude reaches 94.5% in August -METI
Japanese crude oil imports from the Middle East in August rose 12.1% from a year earlier to 2.82 million barrels per day (bpd), equivalent to 13.88 million kilolitres, with Japan’s Continue Reading
China to Allow a Lot More Fuel Exports in Possible Boost to Oil
China issued its biggest fuel-export quota this year, a highly anticipated allocation that could offer a lifeline to a faltering oil market. Refiners and traders have been given 15 million Continue Reading
China’s Rival Aircraft to Boeing, Airbus Jets Wins Certification
A Comac C919 aircraft. Photographer: Qilai Shen/Bloomberg China formally certified its homegrown aircraft to take on Boeing Co. and Airbus SE in the highly lucrative market for narrowbody jets, according Continue Reading
China’s Service Sector Slows in Latest Economic Warning Sign
A street scene in Shanghai earlier this week. China’s services sector slipped into contraction in September. HONG KONG—Chinese economic activity remained feeble in September, with the services sector slipping into Continue Reading
Ian Disrupts Supply Chains From Sea to Land as It Regains Force
Hurricane Ian: DeSantis Says This a 500 Year Flood Event Major ports and rail facilities across the US Southeast have halted operations as one of the strongest hurricanes to ever Continue Reading
The U.S. Plan To Power 100% Of Its Flights With Renewable Jet Fuel
Renewable jet fuel currently accounts for only 0.1 percent of aviation fuel, a percentage that needs to increase to 5 percent by 2030 according to the IEA’s estimates. To achieve Continue Reading
BP Restarts Offshore Oil And Gas Platforms After Hurricane Ian
BP restarted production at its Na Kika and Thunder Horse platforms on Thursday. BP halted production on the two platforms on Monday ahead of Hurricane Ian. Hurricane Ian has since Continue Reading
US gas supporting long, challenging climb of Atlantic Coast LNG developments
Chesapeake monitoring LNG projects in mid-Atlantic US LNG exports forecast at 22 Bcf/d by 2027 US natural gas producers are keeping a close watch over efforts to launch new LNG Continue Reading
Eviation’s electric commuter plane Alice makes first test flight
The first fully electric commuter plane Alice from Eviation Aircraft ( earlier post ) successfully completed its maiden flight at Moses Lake, Washington. Alice lifted off on 27 Sep at Continue Reading
NY Governor orders regulatory action to require all LDVs sold in state to be zero-emissions by 2035
New York Governor Kathy Hochul directed the State Department of Environmental Conservation to take major regulatory action that will require all new passenger cars, pickup trucks, and SUVs sold in Continue Reading
Explainer: How could Europe cap gas prices?
The European Union is considering options to cap gas prices, as a growing number of countries pressure Brussels to put a lid on sky-high fuel costs. France, Italy, Poland and Continue Reading
Russia says Nord Stream likely hit by state-backed ‘terrorism’ | Reuters
Russia said on Thursday that leaks spewing gas into the Baltic Sea from pipelines to Germany appeared to be the result of state-sponsored “terrorism”, as an EU official said the Continue Reading
NATO believes Baltic Sea gas leaks were sabotage
The NATO military alliance warned Thursday it would retaliate for any attacks on the critical infrastructure of its 30 member countries and joined other Western officials in citing sabotage as Continue Reading
The Idea Of A Windfall Tax On Oil And Gas Is Gaining Popularity
The EU plans to launch a deep and comprehensive reform of its electricity market, a reform that will likely be funded by a windfall tax on oil and gas companies. Continue Reading
Russia Is Flaring Less And Keeping Natural Gas In The Ground
Some analysts assumed that cutting Russian gas exports would force the country to either shut down some production of natural gas or flare it. Satellite data shows that flaring in Continue Reading
Europe’s Diesel Crunch Is Set To Worsen
Despite recent signs of weaker diesel demand and economic headwinds, diesel and other crude product supply in Europe is set to tighten in the coming weeks amid higher than normal Continue Reading
Germany Must Cut Natural Gas Consumption To Avoid Winter Shortages
Germany’s gas consumption rose too much last week to levels higher than in previous years, and without considerable gas conservation—including from households—Europe’s biggest economy will find it difficult to avoid Continue Reading
EU countries approve energy windfall levies, turn to gas price cap
European Union countries agreed on Friday to impose emergency levies on energy firms’ windfall profits, and began talks on their next move to tackle Europe’s energy crunch – possibly a Continue Reading
Energy crisis sires new European order: a strong Italy and ailing Germany
In the weeks after Russia’s invasion of Ukraine on Feb. 24, Claudio Descalzi, CEO of Italian energy major Eni (ENI.MI) , embarked on a whirlwind of trips to gas suppliers Continue Reading
Eurozone Inflation Hits 10% as Power Suppliers Scramble for Reserves
The eurozone’s annual rate of inflation hit double digits in September as uncertainty about the currency area’s ability to make it through the winter without power cuts continued to keep Continue Reading
Germany’s Energy Supply Situation Is ‘Extremely Tense’
Germany is currently in an “extremely tense situation” in terms of energy supply, Economy Minister Robert Habeck said on Friday, adding that Europe’s biggest economy still risks running out of Continue Reading
Russian Oil And Fuel Exports Slump In September
Russian exports of crude oil and refined products declined substantially in September, according to Petro-Logistics data cited by UBS commodity analyst Giovanni Staunovo. According to Petro-Logistics, total Russian crude oil Continue Reading
TurkStream Pipeline Has License Revoked As New Sanctions Come Into Effect
Dutch authorities have withdrawn the export license of the company operating the TurkStream gas pipeline from Russia to Turkey, the company, which is based in the Netherlands, said. South Stream Continue Reading
Oil drops on dollar strength, but OPEC+ talks offer support
Oil prices fell on Thursday, with a stronger dollar paring the previous day’s more than $3 gain, though losses were capped by indications that the OPEC+ producer group might cut Continue Reading
Oil Jumps 4% On Inventory Draw, Hurricane Outages
Oil prices surged on Wednesday, with Brent up over 3% and WTI up nearly 4% shortly after the Energy Information Administration (EIA) reported surprise draws in U.S. crude oil inventory Continue Reading
Oil prices stable as soaring dollar offset by U.S. output outages
Oil prices were broadly stable on Wednesday as pressure from a strengthening dollar and crude storage builds was offset by U.S. production cuts caused by Hurricane Ian. Brent crude futures Continue Reading
Oil Prices Could Be Set For Another Sharp Rise
Oil prices have tumbled below the $80 mark for the first time since January. Bearish catalysts have been weighing on oil markets, but bullish news is beginning to trickle in. Continue Reading
Oil Executives: Prices Don’t Reflect Tight Supply
Oil and gas executives polled by the Dallas Fed in a survey released Wednesday fear recession and supply shortages, with optimism waning this quarter despite solid business activity. Oil and Continue Reading
Storm Surge Danger From Hurricanes Is Elevated by Higher Seas
Sea-level rise linked to climate change exacerbates storm surge — like the monster inundation Ian is expected to bring to Florida. Hurricane Ian Could Cost Florida $70 Billion After raking Continue Reading
OPEC+ has begun talks on output cut at Oct. 5 meeting – OPEC source
Leading OPEC+ members have begun discussions about an oil output cut at the group’s next meeting on Oct. 5, three sources told Reuters. One OPEC source told Reuters a cut Continue Reading
Russia seen suggesting OPEC+ cuts oil output by 1 mln bpd – source
Russia is likely to propose that OPEC+ reduces oil output by around 1 million barrels per day at its next meeting in October, a source familiar with the Russian viewpoint Continue Reading
Revealed: Huge gas flaring emissions never reported
Major oil companies are not declaring a significant source of greenhouse gas emissions, a BBC News investigation has revealed. The BBC found millions of tonnes of undeclared emissions from gas Continue Reading
Analysis: Nigeria squanders oil price bonanza as gasoline subsidies soar
Nigeria has failed to capitalize on an oil price boom that has helped cushion other exporters from the impact of inflation, with millions more Nigerians now facing poverty. Data from Continue Reading
The price of rice: a beacon of stability in agricultural markets
In recent years, rice has emerged as an agricultural commodity with a reputation for relatively stable prices, when prices of most other agricultural products have been anything but. The main Continue Reading
Column: Oil and coal sectors think more fossil fuels is the solution. Probably not
If there is one thing the oil and coal industries can agree upon, it’s that the solution to the current global energy crisis is more fossil fuels. This was the Continue Reading
Colder winter forecast in South Korea raises concerns over gas supply for power
KOGAS may have purchased higher spot gas volumes Plans to raise nuclear output, use of LPG over LNG The forecast for a colder-than-usual winter in South Korea is set to Continue Reading
France’s TotalEnergies plans to spin off Canadian oil sands assets | Reuters
TotalEnergies (TTEF.PA) said on Wednesday it is looking to spin off its Canadian oil sands operations and list the new company on the Toronto Stock Exchange, as the assets do not fit Continue Reading
Supply Chain Shortage Stalls Delivery Of 45,000 Ford Vehicles
Supply chain issues are plaguing the auto industry. Ford is in the midst of a parts shortage that has impacted 40,000-45,000 vehicles. Models affected are primarily “high margin trucks and Continue Reading
US gasoline stocks tighten amid stronger demand, weak refinery runs
Highlights Gasoline stocks draw 2.42 million barrels Demand jumps 6% on week Refinery utilization drops 3 points amid unplanned outages A steep decline in refinery utilization and rising demand contributed Continue Reading
12 Gulf of Mexico Platforms Evacuated as Ian Rages On
The Bureau of Safety and Environmental Enforcement (BSEE) revealed Tuesday that it has activated its hurricane response team and that it is monitoring offshore oil and gas operators in the Continue Reading