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US natgas futures slide as output slowly rises, LNG exports remain low
Energy

US natgas futures slide as output slowly rises, LNG exports remain low

  • That lower price move comes despite forecasts the hotter-than-normal weather will continue through late July, prompting consumers to keep their air conditioners cranked up.
  • As the weather heats up, Refinitiv forecast US demand, including exports, will rise from 89.3 bcfd this week to 91.4 bcfd next week and 93.3 bcfd in two weeks.
Published Jul 10, 2020 08:21pm
Libya lifts exports force majeure but says output recovery to be slow
Energy

Libya lifts exports force majeure but says output recovery to be slow

  • The increase in production will take a long time due to the significant damage to reservoirs and infrastructure caused by the illegal blockade imposed on January 17.
  • Our infrastructure has suffered lasting damage, and our focus now must be on maintenance and securing a budget for the work to be done,
Published Jul 10, 2020 06:02pm
South Africa's Eskom implements first power outages in months
Energy

South Africa's Eskom implements first power outages in months

  • Eskom, which generates the vast majority of South Africa's power but for years has had to manage supply from its ageing coal-fired power plants using blackouts.
  • "This loadshedding has been caused by an increase in plant breakdowns exceeding 3,000 megawatts of capacity.
Published Jul 10, 2020 04:49pm
Oil falls $1/bbl
Energy

Oil falls $1/bbl

NEW YORK: Oil prices fell about $1 a barrel on Thursday as investors worried that renewed lockdowns to contain the...

Updated Jul 10, 2020 03:09am
US natgas futures hit 2-month high ahead of storage report
Energy

US natgas futures hit 2-month high ahead of storage report

  • Traders noted the advance came on forecasts the weather will remain hotter-than-normal for the next two weeks.
  • As the weather heats up, Refinitiv forecast US demand, including exports, will rise from 89.2 bcfd this week to 90.7 bcfd next week.
Published Jul 09, 2020 08:29pm
Libya lifts Es Sider force majeure, paving way for oil export boost
Energy

Libya lifts Es Sider force majeure, paving way for oil export boost

  • As part of the continuing review of the force majeure situation, we have recently received a formal security assessment concerning Es Sider Terminal.
  • The Delta Ocean Suezmax tanker arrived at the port on July 5, according to Refinitiv Eikon data, and was chartered by trader Unipec.
Published Jul 08, 2020 06:07pm