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Markets - Energy - 2021-01-14
US natural gas edges up despite mild forecasts ahead of storage report
Energy

US natural gas edges up despite mild forecasts ahead of storage report

  • last week's decrease would cut stockpiles to 3.202 trillion cubic feet (tcf), which would still be about 7.5% above the five-year average of around 2.978 tcf for this time of year.
  • Front-month gas futures rose 1.5 cents, or 0.6%, to $2.742 per million British thermal units.
Published 14 Jan, 2021 07:38pm
Norway expects slower oil output growth in 2021-2023
Energy

Norway expects slower oil output growth in 2021-2023

  • The Norwegian Petroleum Directorate (NPD) expects oil production to grow by 3.6% this year to 1.76 million barrels per day (bpd).
  • The forecast for 2024 was meanwhile raised by 2.6% to an expected 16-year high of 2.1 million bpd.
Published 14 Jan, 2021 06:12pm
Energean approves Israel gas field development
Energy

Energean approves Israel gas field development

  • The Karish North field, which was discovered less than two years ago, is expected to start production in the second half of 2023.
  • The first well at Karish North is expected to produce up to 300 million standard cubic feet per day (3 billion cubic metres per year).
Published 14 Jan, 2021 05:52pm
Brent oil may fall into $55.21-$55.58 range
Energy

Brent oil may fall into $55.21-$55.58 range

  • On the daily chart, the correction is classified as a pullback towards a former resistance at $54.62, now a support. Wave pattern suggests the progress of a powerful wave C, which is capable of travelling to $66.29, its 100% projection level.
Published 14 Jan, 2021 12:08pm