The price of gas in Europe is rising as geopolitical tensions fuel concerns about supply disruption
Dutch and British wholesale prices for gas rose on Monday as markets prepared themselves for Iran's reaction to the U.S. strike on its nuclear sites. They also raised concerns about supply disruptions, higher insurance costs and possible supply disruptions if Tehran closes the Strait of Hormuz. LSEG…
Analysts say that the Vaca Muerta shale is a major factor in Argentina's move towards energy independence.
Rystad Energy analysts stated on Tuesday that the shale gas formation of Vaca Muerta in Argentina will produce a large amount of oil and gas by the first quarter 2025, which is driving the nation to achieve energy independence and its ambitious plans to become a major exporter for liquefied gas.
The report of defects in the French nuclear reactor Civaux 2, lifts European energy market
On Wednesday, the price of front-year baseload contracts in France increased by 8.3% to 68 Euros ($77.76). This was due to a possible report that stress corrosion may have returned at a central France nuclear reactor. The contract reached a new four-month high. The French newspaper La Tribune reported…
German spot contracts trade higher as wind power drops
European spot electricity for Tuesday delivery increased on Monday. German wind power is expected to decline while demand will rise. This will make the country more dependent on imported power. LSEG data shows that the German baseload electricity price for Tuesday at 0951 GMT was 77 Euro per megawatt-hour (MWh), an increase of 8.5% compared to last Monday.
On Monday, France and Germany saw a decline in demand
German and French spot price had not traded on Friday early, while demand in both countries is expected to drop on Monday and renewable output shows divergent trends throughout the region. LSEG data shows that the German and French Monday basis power contracts had not been traded by 838 GMT. LSEG…
German renewables production to remain high Monday
The German and French spot price were not traded on Friday morning, but the persistent solar energy supply and increasing wind power are expected to put pressure on prices on Monday. LSEG data shows that the German and French baseload power contracts for Monday were not traded by 1004 GMT. Guro Marie Wyller…
Gas stocks in Europe could be more stressed this summer due to less hydro and wind.
The wind speed and lower hydropower stock in Northwest Europe could increase demand for gas-fired and coal-fired electricity generation this summer, at a moment when Europe needs to replenish storage that has been depleted following the winter. LSEG data revealed that hydro levels and snowpack are now well below the average levels in continental Europe.
Winter storms in the US could lead to power outages and a reduction of natgas supplies
According to energy analysts, the next few weeks could see massive power outages across the U.S. and a spike in natural gas demand. As a result of the "freeze offs" of oil and gas pipes and wells, the demand for gas is expected to increase. According to the U.S. Energy Information Administration…
Venture Global Louisiana Plaquemines LNG Plant "on track"
U.S. liquefied natural gas (LNG) company Venture Global LNG's Plaquemines export plant under construction in Louisiana was on track to pull in enough natural gas on Friday to produce first LNG, according to data from financial group LSEG and energy analysts.Plaquemines was on track to pull in about 0.16 billion cubic feet per day (bcfd) of pipeline gas on Friday…
US fuelmakers report lower profits in Q3 due to weaker margins and fuel demand
Energy analysts predict that the third quarter profits of U.S. refiners will be lower than last year due to a decline in margins, as fuel demand has slowed and more refining capacity is coming online. After the pandemic, and Russia's invasion in Ukraine, which boosted margins at record levels, refiners are now reversing their favorable pricing and high demand.
Canadian Natural Gas Companies eager to capitalize on the LNG boom flood the market with excess supply
Analysts said that a huge LNG Canada terminal, led by Shell, could struggle to raise Canadian natural-gas prices dramatically when it begins operating next year, because of a glut of supply waiting to be released. Storage was full, and the price of a million British thermal unit (mmBtu), which had been at a high for two years…
ExxonMobil Looks to Sell Australian Assets
Exxon Mobil Corp said on Wednesday it was looking to sell its 50% stake in the Gippsland Basin oil and gas development in Australia's Bass Strait as part of a broader review of its global portfolio of assets.The sale could fetch up to $3 billion, however decommissioning costs for the ageing fields could dent the price tag…
US Natural Gas Demand Nears Record High
U.S. homes and businesses will likely use record amounts of natural gas for heating on Wednesday as an Arctic-like freeze blankets the eastern half of the country, according to energy analysts.Harsh winds brought record-low temperatures across much of the Midwest, unnerving even residents accustomed…
Oil Gains Despite Potential Supply Glut on the Horizon
Oil rose on Thursday, steadying after losing nearly 7 percent over the previous three days, though concern about the prospect of an oversupplied market next year continued to weigh on prices despite OPEC's message that it may cut crude output.The Organization of the Petroleum Exporting Countries (OPEC)…
Leach Xpress Pipeline Service Delayed until Mid-July
TransCanada Corp's Columbia Gas Transmission unit pushed back the date of its Leach Xpress natural gas pipeline in West Virginia. Service will be resumed mid-July. The pipe was damaged in a blast on June 7. The Leach shutdown forced producers using the line to find other pipes to move gas out of the Marcellus and Utica shale regions of Pennsylvania…
Coal's Future Remains Uncertain
A year after Donald Trump was elected president on a promise to revive the ailing U.S. coal industry, the sector’s long-term prospects for growth and hiring remain as bleak as ever. A Reuters review of mining data shows an industry that has seen only modest gains in jobs and production this year - much of it from a temporary uptick in foreign demand for U.S.
North Sea Oil Market Waves Red Flag at Brent Bulls
A recovery in U.S. crude exports and falling European refining margins have sent prices of North Sea barrels tumbling, which may encourage traders to keep oil in storage and could undermine OPEC's efforts to drain inventories. The Organization of the Petroleum Exporting Countries, Russia and 10 other…
Clean Power Plan Lawsuit Put on Hold
A U.S. appeals court on Friday granted a Trump administration request to put on hold a legal challenge by industry and a group of states to former President Barack Obama's regulations aimed at curbing greenhouse emissions mainly from coal-fired power plants, rules that the Republican president is moving to undo. A 10-judge panel of the U.S.
Trump to Reverse Many Obama-era Climate Policies
U.S. President Donald Trump will sign an executive order on Tuesday to undo a slew of Obama-era climate change regulations, a move meant to bolster domestic energy production and create jobs, but environmentalists say the order is dangerous and vow to challenge it in court. The decree's main target is former President Barack Obama's Clean Power Plan…
Trump Signs Order Sweeping away Obama-era Climate Policies
U.S. President Donald Trump signed an executive order on Tuesday to undo a slew of Obama-era climate change regulations that his administration says is hobbling oil drillers and coal miners, a move environmental groups have vowed to take to court. The decree's main target is former President Barack…
