Refining activity picked up in the most recent week, in response to tight product inventories and near-record exports that have forced diesel and gasoline prices to record levels in the U.S.
Russia's invasion of Ukraine has prompted the European Union to rethink its energy policies amid sharpened concerns of supply shocks.
With COVID-19 restrictions easing in China, oil prices are rising in anticipation of growing supply and demand concerns.
John Arnold, a former Enron trader and hedge fund honcho known as the “king of natural gas,” is backing Energy Opportunities Capital (EOC) Partners LLC through his family office.
In this exclusive video interview, Mike Mayers, business development manager at Aggreko, discusses using spare gas for cryptomining to monetize operators’ solution gas.
The project is aimed at increasing natural gas deliveries to the South Texas markets.
Traders noted U.S. natural gas prices were up despite a 7% drop in European prices and forecasts for milder weather and lower U.S. demand over the next two weeks than previously expected.
PGNiG’s LNG supply portfolio with U.S. partners currently stands at 7 million tons or 9 Bcm after regasification. A contract with Sempra would boost that by more than 40%.
Right now, U.S. natural gas futures would have to reach $20 per MMBtu to cool demand for U.S. LNG, said analyst Paul Sankey of Sankey Research.
Crude oil stockpiles in the U.S. Strategic Petroleum Reserve fell to 538 million barrels, the lowest since 1987, data from the U.S. Department of Energy showed.