Baker Hughes reports that US drillers have cut three oil rigs and added three gas rigs to their weekly count, while maintaining the same number of rigs.
Baker Hughes, a leading energy services company, said that the U.S. oil and gas companies this week reduced three oil rigs while adding three natural-gas rigs. The overall rig count remained unchanged. The 'oil and gas rig number, a leading indicator of future production, remained at 551 during the week ending February 13. Baker Hughes reported that the total count was down 37 rigs or 6% from this time last year. Baker Hughes reported that oil rigs dropped by three this week to 409, their lowest level since early January. Gas rigs, however, rose?by three, to 133, the highest level since July 2023.
Carbon weighs down on prices for the front year but spot prices are up because of less wind
German and French spot electricity prices rose Thursday morning, amid predictions of a?lower wind power generation. Meanwhile, a steep?drop in the European Carbon Market weighed on long-term prices. The French 'day-ahead' baseload power contract rose by 39.70 euros, to?54.25 euros per megawatt (MWh), at 1007 GMT. Meanwhile, the German contract had risen 3.50 euros, to 107 euros/MWh. He added that wind power production is expected to drop from a peak of 35 gigawatts at the beginning of the day down to 10?GW by the end of the day. This will increase the demand for more expensive, alternative generation. The French wind energy generation will also fall from 17.8 GW to 7?GW by Friday.
EIA: US natgas production to reach record highs in 2026 while demand remains steady
The U.S. Energy 'Information 'Administration stated in its Tuesday Short-Term Energy Outlook that U.S. Natural Gas output will reach a?record high in 2026 while demand will remain steady. EIA predicted dry gas production would rise from a new record of 107.6 billion cubic feet per day (bcfd) in 2025, to 110.0 bcfd by 2026, and 111.2 bcfd by 2027. The agency projected that domestic gas consumption would remain at 91.6 billion cubic feet per day (bcfd) in 2026. This is the same as the record-high 91.6 Bcfd set in 2025. It will then ease to 91.5 Bcfd by?2027. EIA forecasts from January were 108.8 Bcfd in production and 90.3 Bcfd in?demand.
Equinor sold around 30% of its US Gas on the spot market during January's price spike
Equinor, a Norwegian company, sold 30% of its U.S. natural gas assets in January on a'spot basis,' capitalizing on a chilly snap which boosted demand and prices. A January Arctic blast sent U.S. heat demand skyrocketing and frozen oil and gas wells. This cut gas production to a 2-year low, pushing prices at some Northeast gas hubs to record levels. Equinor has stakes in onshore gas production on the U.S. east coast, and the Marcellus position is its largest natural gas asset. Equinor's CFO Torgrim Reitan said that while the?field was operated by the partner, Equinor took delivery of its gas share and marketed and transported it itself.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, a leading energy services company, said that U.S. firms added oil and natural gas rigs this week for a second consecutive week for the first since December. The number of oil and gas drilling rigs, a good indicator of future production, increased by two in the week ending January 30 to 546, its highest level since December. Baker Hughes reported that despite this week's increase in rigs the total count is still 36 rigs or?6% lower than this time last year. Baker Hughes reported that oil rigs remained at 411 in this week. Oil and gas rig counts declined by 7%…
US natgas prices soar by 140% in the Arctic storm, increasing consumer costs
U.S. Natural Gas?Futures have jumped 140% in the last seven trading days. Cash gas and power prices also hit record highs this week, as an Arctic blast sent heating demands soaring, and frozen?oil?and?gas wells cut gas production to a 2-year low. Power prices are expected to rise sharply, putting pressure on consumers already paying higher bills due to the demand for power, particularly from data centers. Retail electricity prices are on the rise, rising faster than inflation since 2022. The U.S. Energy Information Administration has predicted that retail residential power prices will increase by another 4% this year, to a new record high.
US Northeast spot natgas, power and electricity prices reach record highs due to Arctic blast that boosts heating demand and freezes gaswells
U.S. spot gas and power prices soared in the northeastern region of the country as homes and businesses turned up their heaters. The cold Arctic air had frozen oil and gas wells, and pipes this week. This resulted in gas production dropping to a 2-year low. Pennsylvania's?has jumped by 47%, to a record of $59. In Pennsylvania and Maryland, the price of a megawatt-hour (MWh) soared by 146%. This compares to average cash gas prices in New England of $6.08/mmBtu and $2.79/mmBtu at the Eastern Gas?hub and the average next-day electricity prices at the PJM West?hub of $60.23/MWh by 2025. In recent days, the next-day gas and power prices in the U.S.
German spot prices rise on declining wind production
On Monday, the German baseload contract increased due to a lower supply of wind power and an increase in demand. In contrast, opposite trends are expected for?the nearby regions. LSEG data shows that the German day-ahead power contract was up?25.2% to 135.50 Euros ($160.62 per megawatt hour) at 0911 GMT. LSEG analyst Xiulan he said that a lower wind speed and higher demand in Germany will send a bullish message. Residual load will remain high until?early evening, when it is expected to start to decrease. The picture changes in the rest region where the increasing?winds and the declining residual loads point to a more bearish scenario, they said.
EUROPE GAS Prices Hit Multi-Month Highs Due to US Winter Storm and Storage Concerns
Dutch and British gas contract prices rose Monday morning to their highest level in nearly 10 months as the freezing weather in the U.S. curbed LNG exports. This also raised concerns about?European gas storage levels. LSEG data shows that the benchmark Dutch front-month contract for megawatt hours (MWh) at the 'TTF 'hub had increased by 2.55 euros to 41.95 euros or $14.56/mmBtu at 0825 GMT. According to LSEG, it has reached its highest price since early April 2025 at 42.75 Euros/MWh. The Dutch day-ahead contracts gained 1.85 Euros to 42.45 EUR/MWh. The price of British gas for the day ahead was 7.58 pence higher at 110.33 pence/therm.
As Europe Premium widens, LNG tankers divert their eastbound route
Shiptracking data shows that traders are taking advantage of higher gas prices in Europe compared to Asia by diverting two LNG tankers originally bound for Asia towards Europe and Turkey. The fall in temperatures in northern hemisphere is boosting the heating demand in Asia and Europe, and driving up prices. On Thursday, the price of Asian LNG futures was $11.22 per million British Thermal Units (mmBtu), based on S&P Global Energy Plts Japan-Korea Marker. The benchmark front-month contract for the Dutch Title Transfer Facility hub was closed on Thursday at 38.22?euros per megawatt, or $13.17/mmBtu.
Winter storm increases demand for power in US data centers Alley
The largest U.S. power grid saw its prices rise sharply Sunday, as the demand for energy in a region that has?the largest concentration of data centers in the world? exceeded forecasts in the midst of a deep freeze gripping the majority half the nation. Dominion Energy territory in Virginia saw real-time wholesale prices of $1,800 for a?MWh as early as Sunday morning, up from $200 on Saturday. Virginia is home to the largest cluster of data centres in the world. These centers are used for artificial intelligence, and the rising demand and price of electricity in large swaths across the nation.
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Baker Hughes, an energy services company, said in a closely-followed report published on Friday that U.S. firms added oil and gas rigs this week for the first time since three weeks. The number of oil and gas drilling rigs, a good indicator of future production, increased by 1 in the week ending January 23. Baker Hughes reported that despite this week's increase in rigs the total count is still 32 rigs lower than it was at this time last year. Baker Hughes reported that oil rigs rose by one to 411 in the past week. Gas rigs, however, remained unchanged at 122. Oil and gas rig counts declined by about 7% in '2025, 5% a year later in 2024 and 20% a year later in 2023, as lower U.S.
As Europe Premium widens, LNG tankers divert their eastbound route
Shiptracking data shows that traders are taking advantage of higher gas prices in Europe compared to Asia by diverting two LNG tankers originally destined for Asia towards Europe and Turkey. The fall in temperatures in the northern hemisphere is boosting heating demand. Prices are rising?in both Asia and Europe, and regional competition for LNG supplies is increasing. On Thursday, the price of Asian LNG futures was $11.22 per 100,000 British thermal units. The benchmark front-month contract for the Dutch Title Transfer Facility hub was closed on Thursday at 38.22 Euros per megawatt hour, or $13.17 per MMBtu.
Baker Hughes reports that US drillers have cut their oil and gas rigs a second time in a week.
Baker Hughes, a leading energy services company, said in its closely watched report published on Friday that U.S. firms have cut back the number of natural gas and oil rigs for the second consecutive week. In the week ending January 16, the oil and gas rig counts, an early indicator for future production, dropped by one, to 543. This is the lowest it has been since mid-December. Baker Hughes reported that the total rig count is down 37 rigs or 6% from this time last week. Baker Hughes said oil rigs increased by one this week to 410, while gas-rigs dropped?by two, to 122. This is their lowest level since October.
French wind production drops, causing a split in spot prices
The French spot contract rose on Friday as the French wind supply was expected to fall by almost 40%, and nuclear output declined. Meanwhile, German demand and supply are expected to decrease, and German wind supply will be slightly higher. By 0926 GMT, the?French baseload day-ahead contract was up 18.4% to 107.75 Euros ($125.33). The German equivalent contract fell 8.2% to 109.5 euros/MWh. LSEG data revealed that German wind-power production was expected to increase by 730 megawatts, to 25.2 gigawatts. Meanwhile, French wind power was projected to decrease by?5 GW at 7.7 GW.
Wind power surge cuts spot prices but frost-related demands lend support
The European prompt power price fell on Tuesday, ahead of a near-tripling of German wind power expected on Wednesday and a more-than-doubling of French wind energy volumes. However, the prices remained relatively high as icy weather?supported?demand. The LSEG analyst Naser Hazemi wrote that "higher wind energy generation leads to a lower residual load on several markets, including Germany." He was referring to fewer thermal plant requirements. He added that "demand is expected in many countries to increase". LSEG data showed that French day-ahead basis load was down 10.4% to 107.5 euros per Megawatt hour by 0910 GMT. The German equivalent price dropped by 14.9% to 101.8 Euro/MWh.
German spot prices rise as output of renewable energy falls
German day-ahead electricity prices increased on Monday, as the expected decrease in renewables generation offset an anticipated decline in demand. LSEG data shows that German baseload day-ahead was up?38.9% to?123 Euros ($143.70 per megawatt hour) at 0944 GMT. Data showed that the equivalent French price had risen by 35.2%, to 121 Euros. Naser Hashemi of LSEG, a LSEG analyst, predicted that residual load in Germany will be almost 10 GWh/h more than the previous day, until about 5 p.m. He cited lower renewables as a factor that would boost 'German power prices. LSEG data shows that the German wind power production is expected to drop by 1.3 gigawatts on Tuesday to 13.4 GW.
Demand for lithium is expected to increase due to the growing demand for energy storage.
The boom in battery storage in 2026 has increased the demand for lithium, bringing 'hopes of an accelerated turnaround in an industry that is struggling with an oversupply. Since the second half 2022, the lithium market has struggled with an?oversupply. Demand is not keeping up with the soaring supply - fueled by a price boom that was triggered in part by a surge in electric vehicle batteries. China's reforms in the power sector have helped fuel a stronger than expected demand in 2025 for lithium, which is used in batteries to store power. This has led to a cautiously positive outlook for the year ahead.
Baker Hughes reports that US drillers added oil and gas rigs in the US for the second consecutive week.
Baker Hughes, an energy services company, said that U.S. firms added oil and natural gas rigs this week for the second consecutive week. The oil and gas rig counts, an early indicator of future output, increased by one in the week ending December 30 to reach 546, its highest level since December 12. Baker Hughes released its rig count report early because of the New Year's Day holidays. Baker Hughes reported that despite a?this week rig increase?, the total number of rigs was still 7.3% lower than this time last year. Baker Hughes reported that oil rigs rose by three this week to 412…
Baker Hughes reports that US drillers have added oil and gas rigs to their fleet for the first time in 3 weeks.
Energy services firm Baker Hughes said that U.S. firms added oil and gas rigs this week for the first time in 3 weeks. The number of oil and gas rigs, a good indicator of future production, increased by three in the week ending December 23. Baker Hughes has released its rig count report several days earlier than usual due to the Christmas Day holidays. Baker Hughes reported that despite this week's increase in rigs, the total count is still down by 44 rigs since?this time last. This represents a 7.5% decline. Baker Hughes reported that the number of oil drilling rigs rose by three this week to 409, while gas drilling rigs remained unchanged at 127.