What’s Affecting Oil Prices This Week? (Aug. 2, 2021)
Brent and WTI crude are tracking well so far. However, in its latest oil price forecast, Stratas Advisors says U.S. production will be a key variable going forward that will affect the future supply/demand dynamics and oil prices.
Oil Prices on Track for Strong Weekly Gain
“The oil market no longer appears to be viewing the issue of the Delta variant with quite the same alarm as it was at the beginning of last week,” said Commerzbank analyst Carsten Fritsch.
What’s Affecting Oil Prices This Week? (July 26, 2021)
Back on trend? Stratas Advisors is projecting that demand will continue to outstrip supply throughout the rest of the year in its latest oil price forecast.
Climate Policies Unlikely to Disrupt Oil Demand Growth, Study Shows
High levels of government intervention in climate policy will likely not slow down oil demand over the next decade, new study says.
The Latest
Markets
S&P Global, IHS Markit Sell Oil Pricing Agency in $1.2 Billion Cash Deal
U.S oil pricing agency Oil Price Information Service will become part of the Wall Street Journal parent Dow Jones’ Professional Information Business as part of its sale to Rupert Murdoch-controlled News Corp.
Crude Oil
What’s Affecting Oil Prices This Week? (Aug. 2, 2021)
Brent and WTI crude are tracking well so far. However, in its latest oil price forecast, Stratas Advisors says U.S. production will be a key variable going forward that will affect the future supply/demand dynamics and oil prices.
Crude Oil
OPEC Oil Output Hits 15-month High, Survey Shows
Saudi Arabia delivered the biggest increase in July of 460,000 bbl/d of oil, as it further unwound its voluntary cut and raised output as part of the July 1 OPEC+ boost.
Natural Gas
Mexico Strikes Pact with Canada's TC Energy for Natural Gas Pipeline
The new pipeline in the south will start in Tuxpan in the Mexican state of Veracruz and run by sea to link with the Mayakan pipeline in the states of Campeche and Tabasco.
Liquefied Natural Gas (LNG)
Poland’s PGNiG Terminates LNG Deal over Delayed Texas Project
PGNiG, Poland’s biggest gas company, signed a 20-year agreement for LNG supples with Sempra in 2018, as part of its bigger plan to cut reliance on gas imports from Russia.
Crude Oil
Oil Prices on Track for Strong Weekly Gain
“The oil market no longer appears to be viewing the issue of the Delta variant with quite the same alarm as it was at the beginning of last week,” said Commerzbank analyst Carsten Fritsch.
Liquefied Natural Gas (LNG)
Tellurian Signs Deal to Sell LNG from Louisiana Project to Shell
The Shell agreements mark the third deal Tellurian has finalized in 10 weeks, totaling 9 mtpa, which Tellurian said is nearly all the capacity of the proposed 27.5-mtpa Driftwood LNG export facility’s first two plants.
Crude Oil
Enterprise Oil Pipeline Volumes Rise on Demand Recovery
Strong prices and lower inventories at the Cushing oil storage hub in Oklahoma are signaling that volume needs to stay in the U.S. at least for now, co-CEO A. J. Teague added during the company’s post-earnings call.
Public Capital
FERC to Hear Total Alleged Natural Gas Manipulation Case by 2022
FERC was hoping for an earlier hearing on the case against Total, but the administrative law judge in an order on July 27 said the “complexity of this matter” requires a longer timetable.
Liquefied Natural Gas (LNG)
US LNG Exports Hit Record Highs in First-half 2021
U.S. LNG exports surged as international natural gas and LNG spot prices increased in Asia and Europe due to cold weather, according to IEA.