Liquefied Natural Gas (LNG) , Natural Gas , Trade

US Natgas Futures Gain on Strong LNG Exports, Texas Heat Wave

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.

May 17, 2022

Crude Oil , Trade , Storage

US Emergency Oil Reserve Drops to Lowest Level Since 1987

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.

May 16, 2022

Petrochemicals , Crude Oil , Trade

Oil Jumps 4% as US Gasoline Prices Hit Record High, Stock Markets Soar

WTI was on track for its highest close since March 25 and its third weekly rise. Brent, however, remained set for its first weekly decline in three weeks.

May 13, 2022

Crude Oil , Trade , International

IEA May Release More Oil If Needed, Says Fatih Birol

IEA Executive Director Fatih Birol also said that the summer may be challenging for the oil market, while winter may be challenging for the gas market.

May 13, 2022

Markets , Trade , Midstream

Europe Refiners Benefit from US Emergency Oil Stock Releases

With continued releases of the U.S. Strategic Petroleum Reserve over next several months, “expect to be seeing some of those exported,” Kpler’s Smith said.

May 12, 2022

Crude Oil , Trade , International

OPEC Cuts 2022 World Oil Demand Forecast Again on Ukraine War

OPEC cited rising inflation and continued monetary tightening, and lowered this year’s economic growth forecast to 3.5% from 3.9%, adding upside potential was “quite limited.”

May 12, 2022

Natural Gas , Trade , Midstream

Europe’s Gas Supply Crisis Grows after Russia Imposes Sanctions

Moscow’s sanctions came just a day after Ukraine halted a gas transit route, blaming interference by occupying Russian forces, the first time exports via Ukraine have been disrupted since the invasion.

May 12, 2022

Crude Oil , Trade

Oil Prices Up More Than 5%, as Russia-EU Energy Quarrel Intensifies

“Prices are going to continue to move on up especially if the European Union comes to an agreement to phase out Russian oil purchases over the balance of this year,” said Andrew Lipow, president of Lipow Oil Associates in Houston.

May 11, 2022

Liquefied Natural Gas (LNG) , Trade , International

Bulgaria to Receive US LNG Deliveries from June

The arrangement to receive U.S. LNG supplies was agreed at a meeting between Bulgaria Prime Minister Kiril Petkov and U.S. Vice President Kamala Harris in Washington, the government said.

May 11, 2022

Crude Oil , Trade

Oil Market Volatility Not Linked to OPEC+, UAE Says

“I’m not concerned about it for a basic reason there is a debate on NOPEC in the U.S., we need to wait and see,” said Suhail al-Mazrouei, UAE’s energy minister.

May 10, 2022