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Markets
Explainer: Will Colonial Pipeline Shutdown Drive Up Pump Prices?
Nearly half of the fuel consumed in the eastern U.S. passes through the Colonial network.
Crude Oil
Oil Prices Rise after Cyberattack Forces Shutdown of Major US Pipeline
While some analysts have said oil demand may never reach pre-pandemic levels, Goldman Sachs said it expected this by the end of the year and predicted Brent would hit $80 and WTI $77 within six months.
Liquefied Natural Gas (LNG)
Woodfibre LNG Signs 2nd BP Deal for British Columbia LNG Plant
Second agreement is with BP.
Crude Oil
Saudi Arabia Cuts Oil Prices for Asia, Sources Say
Top oil exporter Saudi Arabia has cut the June official selling prices (OSPs) of all crude grades it sells to Asia, sources say.
Liquefied Natural Gas (LNG)
Total Presses Ahead with Papua LNG, Sees 2023 Investment Decision
The project had been delayed due to the pandemic.
Business
Energy Transition Could Be Delayed by High Metal Prices, Warns IEA
Production of critical minerals needed for clean energy technologies was much more concentrated than in the oil market, the IEA says.
Exploration & Production
Brazil’s Petrobras to Offer Gas Contracts Tied to US Henry Hub Benchmark
Petrobras will start offering contracts backed by the U.S. Henry Hub reference price, in addition to contracts indexed to the international Brent oil benchmark, the company said in a statement.
Crude Oil
What’s Affecting Oil Prices This Week? (May 3, 2021)
The oil price movement from the last week is somewhat reflective of the difference in the pace of economic recovery between the U.S., where the economy continues to show signs of a robust recovery, and the Eurozone, which has fallen back into recession, says Stratas Advisors in its latest forecast.
Liquefied Natural Gas (LNG)
Sources: LNG Cargoes Diverted from India Amid COVID Crisis
Weakened demand has led to six tankers being diverted to Asia, Europe and Kuwait.
Investment
Berkshire Hathaway Defends $8 Billion Proposal to Build Natural Gas Plants in Texas
Berkshire Hathaway in March proposed building 10 natural gas-powered plants that would supplement the capacity of the Electric Reliability Council of Texas (ERCOT), which provides electricity to most of the state.