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Energy

US crude stocks down by nearly 10 million barrels: EIA
Energy

US crude stocks down by nearly 10 million barrels: EIA

  • Crude inventories fell by 9.9 million barrels in the week to Jan. 22 to 476.7 million barrels, compared with analysts' expectations in a Reuters poll for a 430,000-barrel rise.
  • Refinery utilization rates fell by 0.8 percentage points, in the week.
Published 27 Jan, 2021 09:12pm
European natural gas price volatility is here to stay
Energy

European natural gas price volatility is here to stay

  • After a couple of years of relatively flat gas prices and stable demand, prices dropped last year in the face of lower energy demand because of coronavirus-related restrictions.
  • This month, however, Asian liquefied natural gas (LNG) prices soared to record highs because of low stocks.
Updated 27 Jan, 2021 11:23pm
Pakistan LNG buys three cargoes for March delivery
Energy

Pakistan LNG buys three cargoes for March delivery

  • Pakistan LNG, a government subsidiary that procures LNG from the international market, also bought one cargo from Qatar Petroleum Trading for delivery over March 24 to 25 at a slope rate of 12.7%, they said.
Published 27 Jan, 2021 02:24pm
US oil may retest resistance at $52.98
Energy

US oil may retest resistance at $52.98

  • As long as the contract remains firm above a support at $52.34, the 23.6% retracement of the uptrend from $47.18 to $53.93, it may revisit the high of $53.93.
Published 27 Jan, 2021 10:12am
IEA launches global group to tackle fallout from energy transition
Energy

IEA launches global group to tackle fallout from energy transition

  • The commission, chaired by Denmark, will include energy ministers from Canada, Norway, Mexico and Oman.
  • We believe the real success of this transition is critically hinging on whether or not citizens will benefit from the opportunities and how we navigate the disruptions of clean energy transitions.
Published 26 Jan, 2021 08:59pm
NextEra Energy posts loss on pipeline write down
Energy

NextEra Energy posts loss on pipeline write down

  • Mountain Valley pipeline in the United States is one of the several oil and gas pipes delayed in recent years by regulatory.
  • NextEra posted a net loss of $5 million in the three months ended Dec. 31, compared with an income of $975 million a year ago.
Published 26 Jan, 2021 07:13pm
Kazakhstan has restored oil output after power outages
Energy

Kazakhstan has restored oil output after power outages

  • Daily oil production was restored to 227,200 tonnes on Jan. 25 from about 195,700 tonnes on Jan. 21 and 182,774 tonnes on Jan. 20.
  • Still, production this month lags plans by around 660,000 tonnes, a source familiar with the data said.
Published 26 Jan, 2021 06:41pm
US natgas futures rise 2pc to a 1-week high on colder forecasts
Energy

US natgas futures rise 2pc to a 1-week high on colder forecasts

  • On its second to last day as the front-month, gas futures for February delivery rose 5.2 cents, or 2.0%, to $2.654 per million British thermal units.
  • At-the-money implied volatility for the futures, a determinant of an option's premium, fell to 45.2%, its lowest since March.
Published 26 Jan, 2021 06:37pm
US oil may retest resistance at $52.98
Energy

US oil may retest resistance at $52.98

  • The trend from $53.93 may have reversed. It consists of three waves. The third wave labeled c is roughly equal to the first wave labeled a. This equality confirms the reversal of the trend.
Published 26 Jan, 2021 10:24am
Brent oil may rise into $56.21-$56.64 range
Energy

Brent oil may rise into $56.21-$56.64 range

  • Support is at $55.52, a break below which may cause a fall into $54.83-$55.18 range. On the daily chart, oil stabilised around a support at $54.50, the 261.8% projection level on the uptrend from $39.34.
Published 26 Jan, 2021 10:22am
Russia cuts oil exports from western ports by 19pc in Feb/Jan
Energy

Russia cuts oil exports from western ports by 19pc in Feb/Jan

  • Urals loadings from Primorsk are set at 2.2 million tonnes for February and exports from Ust-Luga are set at 1.2 million tonnes, according to the schedule.
  • Oil exports are set to decline amid a sharp cut in major oil company Rosneft's export plans for next month.
Published 25 Jan, 2021 09:37pm