U.S. natural gas futures rose on Dec. 31 and were on track for their best year since 2016, helped by forecasts for slightly colder weather than previously expected and record LNG exports.
The new ethylene storage tank will facilitate faster loading and enable the Morgan’s Point terminal, owned 50/50 by affiliates of Enterprise and Navigator, to reach an annual nameplate export capacity of 1 million tons per year
Crude oil inventories in the U.S. rose by 15.2 million barrels in the week to Dec. 4 to 503.2 million barrels, the largest build in crude inventories since April.
Hartree Refining Co. LLC, an affiliate of Hartree Partners LP, said Nov. 16 it has completed the acquisition of Targa Resources Corp.’s membership interests in Targa Channelview LLC. The transaction closed in October 2020.
Riverstone Holdings agreed to buy International-Matex Tank Terminals (IMTT) from Macquarie Infrastructure Corp. for total consideration of $2.685 billion.
Russian President Vladimir Putin’s statements last week will support oil prices, but will it be enough for 2021? Stratas Advisors explores the effect of Putin’s views on the market in its latest oil price forecast.
Front-month natural gas futures rose 11 cents, or 3.8%, to settle at $3.023/MMBtu. That was their first close over $3 since January 2019 and puts the contract up almost 70% from a recent low.
Global oil participants saw contradicting messages last week from OPEC and Russia with regards to their approach for rebalancing markets, reminiscent of what happened in early March, Stratas Advisors says in its latest oil price forecast.
Front-month natural gas futures rose 14.0 cents, or 5.1%, to settle at $2.881/MMBtu, their highest close since March 2019.