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Author: Tom Whipple

Category:
  • Natural Gas Supply
  • Prices

Henry Hub Price Expected to Average $8.69 in 3Q

The EIA’s newest Henry Hub forecasts mark a notable increase to the organization’s previous projections. The U.S. Energy Information Administration (EIA) expects the Henry Hub natural gas spot price to Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Transportation

How to Make a City Safer for E-Bikes? Think Infrastructure

The invasion of Ukraine has put the US and Europe on a wartime mission to abandon Russian fossil fuels. This series looks at speeding up zero-carbon alternatives by lowering political Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • USA

Appalachia’s tight forward gas spreads pose risk to summer storage injections

Highlights Summer-winter spreads just 10-15 cents at Eastern Gas Strong spot, near-term demand boosting summer prices Northeast gas storage 80 Bcf below average in mid-May Narrowing summer-to-winter forward price spreads Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Prices
  • USA

Gasoline Metrics Are Flashing Red for a Tight, Costly US Summer

From record prices to blowout spreads and falling stockpiles, a handful of financial and physical indicators are pointing to expensive and possibly tighter gasoline markets across the US this summer. Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Shale Oil

Permian oil output forecast to hit record high in June -EIA

 Oil output in the Permian in Texas and New Mexico, the biggest U.S. shale oil basin, is due to rise by 88,000 barrels per day (bpd) to a record 5.219 Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Oil Supply
  • USA

U.S. Strategic Petroleum Reserve drops to lowest level since 1987

The amount of crude oil in the U.S. Strategic Petroleum Reserve (SPR) dropped by 5 million barrels in the week to May 13, data from the U.S. Department of Energy Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • EU
  • Russia

EU clarifies how companies can legally pay for Russian gas

The European Commission has confirmed how European Union companies can pay for Russian gas without breaching the bloc’s sanctions against Russia, in updated guidance on the issue seen by Reuters. Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Finland
  • Russia

Russia’s Inter RAO to halt power exports to Finland due lack of payment

Russian state-owned utility Inter RAO will stop exporting electricity to Finland from Saturday because it has not been paid, the company’s Finnish subsidiary said on Friday. Inter RAO has not Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Russia

Rouble reverses rally as Russia eases capital controls

The Russian rouble weakened on Tuesday, stepping away from near five-year highs against the euro, after the central bank eased some capital controls that were the main driver of its Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • EU
  • Hungary

EU ministers fail to persuade Hungary to sign up to Russian oil embargo

EU foreign ministers failed on Monday in their effort to pressure Hungary to lift its veto of a proposed oil embargo on Russia, with Lithuania saying the bloc was being Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Sweden

Sweden’s plans for NATO membership hit snag as Turkey says no

Sweden will formally apply for NATO membership in the next few days, Prime Minister Magdalena Andersson said on Monday, but its accession process, and that of Finland, hit a snag Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Russia

Russian rouble near 5-year highs versus euro, stocks up

The Russian rouble firmed past 64 per dollar on Monday, briefly jumping to 62.71 to the greenback, and climbed towards its highest in nearly five years against the euro, supported Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Prices
  • United Kingdom

UK Diesel Prices at the Pump Hit Record High, RAC Says

The price for Britain’s motorists to fill up their cars with diesel reached a fresh high, in another blow to consumers grappling with the nation’s cost-of-living crisis. The average UK Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Economy
  • EU

Europe’s Economic Outlook Is Looking Bleaker By The Day

Russia’s invasion of Ukraine has sparked an economic crisis throughout Europe. Supply chain concerns and a surge in energy prices have led to rampant inflation across the continent. Despite historic Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Germany
  • Russia

Germany to End Russian Oil Imports Whatever EU Decides

Germany to end Russian oil imports by the end of the year. Germany had signaled before that it was ready to ditch Russian oil as well as Russian gas. Hungary Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • EU
  • Natural Gas Supply

Leaked EU Memo Details Emergency Gas Supply Shock Measures

The European Union is gearing up to release emergency measures for a full-scale gas supply shock on Wednesday, with a leaked memo calling for a range of potential actions, from Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Russia

New Oil Traders Fill Void as Top Names Abandon Moscow Ties

 With the world’s largest oil traders scaling back Russian crude exports, the market is trying to figure out who is going to fill the void. The answers include a medium-sized Continue Reading

Posted On : 17 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil prices slide as investors take profit; supply fear still looms

Oil prices fell on Monday, paring early gains as investors took profit following a surge in the previous session, albeit in the shadow of supply fear as the European Union Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Prices

Oil Drops as Virus Lockdowns Across China Pummel Economy

 Oil retreated for the first time in four sessions as Covid-19 lockdowns strained the economy in China, the world’s biggest crude importer. West Texas Intermediate slid to trade near $110 Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Arabia set for oil output capacity above 13 mln bpd by 2027, says minister

 Saudi Arabia is on track to lift oil production capacity by more than 1 million barrels per day to over 13 million barrels bpd by the end of 2026 or Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Iraq

Sandstorm closes schools, offices and halts flights in Iraq

 A heavy sandstorm in Iraq, the latest of what Iraqis say is an unprecedented number to hit the country in recent weeks, closed some state schools and offices and halted Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Kenya

Worsening Drought Leaves 3.5 Million Needing Food Aid in Kenya

A family migrates in search of grazing land in Wajir County, Kenya. A worsening drought has left 3.5 million people in need of food aid in Kenya. The number of Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • India

Wheat Soars in Risk to Food Inflation as India Restricts Exports

Wheat Soars as India Restricts Exports Wheat jumped by the exchange limit after India’s move to restrict exports, exposing just how tight global supplies are after the war in Ukraine Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China
  • Japan

Yen, Supply Chain Chaos Send Japan Manufacturers Home

Japanese manufacturers are increasingly looking to move offshore operations to their home market, according to a Tokyo Steel Manufacturing Co. executive. The rapidly weakening yen that boosts the competitiveness of Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China

China’s thermal coal futures mute as Beijing reins in commodity inflation

Trade in China’s thermal coal futures has almost come to a halt after Beijing stepped up its control of coal prices to rein in the soaring costs of energy and Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China

China’s April oil refinery output plunges to 2-year low as COVID curbs bite

China processed 11% less crude oil in April than a year earlier, with daily throughput falling to the lowest since March 2020 as refiners slashed operations on weaker demand due Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China

China’s April coal output leaps 11% on year, but demand downturn looms

China’s daily coal output in April jumped 11% from the same month a year earlier, boosted by Beijing’s order to increase supply to ensure security of the country’s energy supply, Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China
  • coronavirus

Shanghai aims for June 1 return to normal as COVID lockdown batters economy

 Shanghai set out plans on Monday for the end of a painful COVID-19 lockdown that has lasted more than six weeks, heavily bruising China’s economy, and for the return of Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • North Korea

North Korea’s Kim orders military to stabilise supply of COVID drugs

Army medical corps told to stabilise supply of medicine Leader’s order comes before visits to pharmacies in capital Pharmacies seen to lack equipment for the task -KCNA S.Korea offers talks Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China

Not a Single Car Was Sold in Shanghai Last Month

For evidence of just how tight Shanghai’s lockdown has been, consider this: not a single car was sold in the city last month. The majority of the city’s 25 million Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • North Korea

Kim blasts pandemic response as North Korean outbreak surges

North Korean leader Kim Jong Un criticized officials over slow medicine deliveries and mobilized the military to respond to a surge in suspected COVID-19 infections, as his nation struggled to Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • China

China’s economic activity plummets as Covid lockdowns hit growth

China’s economic activity contracted sharply in April as a wave of lockdowns across the country posed the most significant challenge to its growth prospects since Covid-19 emerged more than two Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Offshore
  • USA

No Offshore Oil Auctions Devastating To Americans, NOIA Says

NOIA President Erik Milito has issued a response to the decision not to move forward with planned GoM and Alaska oil and gas lease sales. National Ocean Industries Association President Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Natural Gas Supply
  • Prices

Surging natural gas prices squeeze U.S. industrial sector

Skyrocketing natural gas prices have raised manufacturing and transportation costs across many U.S. industries, and the situation should persist as the United States exports more gas to Europe to make Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • Ukraine

Ukraine restarts gas distribution stations, supplies in Kharkiv

 Ukraine’s gas transit system operator said over the weekend that it had resumed operations at two distribution stations in the Kharkiv region and restarted gas supply to more than 3,000 Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • EU

Euro Area Would Barely Grow If Russian Gas Cut Off, EU Says

 The euro area’s pandemic recovery would almost grind to a halt, while prices would surge even more quickly if there are serious disruptions to natural-gas supplies from Russia, according to Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • France
  • Russia

Renault Sells Russia Business to State-Backed Entity for One Ruble

French auto maker Renault RNO -0.30%▼ SA has reached a deal to cede its 68% stake in Russia’s biggest car maker to a state-backed entity for one ruble and a Continue Reading

Posted On : 16 May 2022 Published By : Tom Whipple
Category:
  • IEA

IEA: Lower Demand Changes Everything For Oil Markets

IEA: slowing demand growth and rising production from other major oil economies will help weather the effect of sanctions on Russia. IEA revises demand growth figures for 2022. Accelerating inflation Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • G7

Time to Gauge 80-Day Inflation Shock Around the World: Eco Week

 Group of Seven finance chiefs are set to make their biggest appraisal yet of how the world has changed since the start of Russia’s war in Ukraine some 80 days Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Agriculture

World’s Food Problems Piling Up as India Restricts Wheat Exports

India’s move to restrict wheat exports is set to reverberate through global agricultural markets, exposing just how tight global supplies are after the war in Ukraine and threatening to drive Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Iraq

Gas pipeline stalled by intra-Kurdish political rifts

The Iraqi Kurdistan region’s fractious internal politics are threatening to derail the construction of a pipeline that could enable future natural gas exports to Turkey — a potential setback for Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Saudi Arabia

Saudi Aramco net profit soars 82% in Q1 on high oil prices

State-owned oil producer Saudi Aramco on Sunday reported an almost 82% rise in first-quarter net profit, broadly in line with analyst forecasts, helped by strong oil prices. Aramco, which is Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Electricity
  • South Africa

South Africa’s Eskom to resume daily rolling power cuts

South African state power utility Eskom said on Saturday that it would resume power cuts from 5 p.m. (1500 GMT) to 10 p.m. due to loss of some generation capacity. Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Iran

Iran Says It Can Double Oil Exports If Market Needs More Barrels

 Iran has the capacity to double oil exports if there’s sufficient demand, a top official said, even as a deal on the country’s nuclear program that could pave the way Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Nigeria

Nigeria: Scandalous Oil Theft – Nigeria Loses N3.038 Trillion in One Year

THERE are indications that despite the rise in crude oil prices in the international market, Nigeria’s economy may not reap the benefits due to the continued increase in theft and Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Climate
  • India

What It’s Like to Live Through India’s Nonstop Heat Wave

A diary from New Delhi on a recent day when the city of 19 million struggled to cope with killer temperatures Large parts of northern and central India are bracing Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Air Lines
  • USA

Airfares soar as Americans shrug off Covid and inflation to get away

US airlines are poised to raise ticket prices further as Americans shrug off the fastest rise in domestic airfares for decades in their determination to travel. Airfares rose by 18.6 Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • China

Shanghai aims to reopen more COVID-shut businesses, Beijing battles on

Shanghai will gradually begin reopening businesses such as shopping malls and hair salons in China’s financial and manufacturing hub from Monday after weeks in strict COVID-19 lockdown, while Beijing battles Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • North Korea

North Korea reports more deaths, says taking ‘swift measures’ against COVID outbreak

North Korea said on Sunday a total of 42 people had died as the country began its fourth day under a nationwide lockdown aimed at stopping the impoverished country’s first Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple
Category:
  • Economy
  • USA

Dollar’s Strength Pushes World Economy Deeper Into Slowdown

The soaring dollar is propelling the global economy deeper into a synchronized slowdown by driving up borrowing costs and stoking financial-market volatility — and there’s little respite on the horizon. Continue Reading

Posted On : 15 May 2022 Published By : Tom Whipple

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