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Energy

US natgas futures hold at 5-week low on milder forecast
Energy

US natgas futures hold at 5-week low on milder forecast

  • Traders, however, noted the weather is expected to turn slightly cooler in mid March, which should boost heating demand a bit during the week of March 14 over the week of March 7.
  • Front-month gas futures fell 0.8 cents, or 0.3%, to $2.738 per million British thermal units.
Published 05 Mar, 2021 09:18pm
Oil guzzler India says OPEC+ decision to hit economic recovery
Energy

Oil guzzler India says OPEC+ decision to hit economic recovery

  • As one of the largest crude-consuming countries, India is concerned that such actions by producing countries have the potential to undermine consumption-led recovery and more so hurt consumers, especially in our price-sensitive market.
  • "The decision by OPEC+ has saddened us. It is not good news for India, China, Japan, Korea and other consuming nations," Pradhan said.
Published 05 Mar, 2021 08:32pm
Oil surges $2 after OPEC+ extends output cuts
Energy

Oil surges $2 after OPEC+ extends output cuts

  • Saudi Arabia surprises with continued voluntary cuts.
  • OPEC+ producers keep curbs, agree only small output boost.
  • Decision could affect oil inventories into 2022.
  • Brent and WTI on track for weekly gains.
Published 05 Mar, 2021 08:28pm
LNG shipping market primed for growth after scramble for supply
Energy

LNG shipping market primed for growth after scramble for supply

  • A cold snap in Europe and Asia in January and in North America last month increased heating demand, prompting prices to jump in several markets, while inventories fell.
  • You need to replenish stocks because of the cold northern hemisphere winter in both Asia and in Europe. So, we think this is going to add to tonne miles.
Published 05 Mar, 2021 05:50pm
Italy's Saipem agrees deal for five green hydrogen plants
Energy

Italy's Saipem agrees deal for five green hydrogen plants

  • Two other plants will be built in Albania and Morocco, they said, adding that the Moroccan plant would produce ammonia from green hydrogen.
  • Saipem, a market leader in subsea exploration and construction, is developing new lines of business to meet an increasing client focus on green technologies.
Updated 04 Mar, 2021 09:54pm
US crude stocks surge, fuel stocks plunge in wake of Texas freeze
Energy

US crude stocks surge, fuel stocks plunge in wake of Texas freeze

  • Crude inventories rose by 21.6 million barrels in the week to Feb. 26 to 484.6 million barrels, compared with analysts' expectations in a Reuters poll for a 932,000-barrel drop.
  • Crude stocks at the Cushing, Oklahoma, delivery hub rose by 485,000 barrels in the last week, EIA said.
Published 03 Mar, 2021 08:45pm
US natgas futures rise to 1-week high on colder forecasts
Energy

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

  • Front-month gas futures rose 2.8 cents, or 1.0%, to $2.867 per million British thermal units.3
  • Refinitiv projected average gas demand, including exports, would drop from 112.2 bcfd this week to 105.0 bcfd next week as the weather turns seasonally milder.
Published 03 Mar, 2021 07:58pm
US NYMEX natgas average daily futures fall, options rise in February
Energy

US NYMEX natgas average daily futures fall, options rise in February

  • For the month, futures ADV was 575,167 contracts, down 9.1% from a year ago. Futures ADV hit a monthly record of 677,112 contracts in November 2018.
  • Year to date, futures ADV was 496,290, down 15.3% from the same period a year earlier. That, however, keeps futures ADV on track to top the annual record of 477,468 contracts in 2020.
Published 03 Mar, 2021 07:55pm