Hike in forecast Q4 2024 natural gas demand helps keep markets on edge
As Europe enters the fourth quarter, and the official start of the gas winter, markets remain on edge, with the expiry of the Russia-Ukraine gas transit deal at year-end in sharp focus. While gas...
View ArticleChina extracts commercially viable natural gas from deeper shale formations
China is a major natural gas importer by pipeline and the world’s largest importer of liquefied natural gas (LNG). In the last 10 years, the Chinese government has actively supported the development of...
View ArticleKPMG study analyses model oil shock to demonstrate potential impact
On 5 September 2024, Kuwait and seven other OPEC+ countries agreed to extend their additional voluntary production cuts of 2.2 million barrels per day until November-end 2024. This measure demonstrated...
View ArticleU.S. crude oil inventories down last week: API
The American Petroleum Institute (API) on Tuesday reported a decrease of 1.458 million barrels of crude oil in U.S. inventories for the week ending Sept. 27. Analysts expect a decline of 2.1 million...
View ArticleThe Commodities Feed: Middle East escalation
Energy – Supply risks build Oil prices rallied yesterday and this strength has continued in early morning trading today following Iran’s missile attack on Israel overnight. ICE Brent settled almost...
View ArticleMiddle East Crude-Oman, Dubai premiums rise; Murban falls
U.S. crude oil and distillate stockpiles fell last week, while gasoline inventories rose, according to market sources citing American Petroleum Institute figures on Tuesday. SINGAPORE CASH DEALS Cash...
View ArticleOPEC+ ‘staying together’ with goal to stabilize oil market: UAE minister
OPEC and its allies remain united in their goal of stabilizing the oil market, UAE energy minister Suhail al-Mazrouei said Oct. 2, ahead of a meeting of the group’s key advisory committee. “We are...
View ArticleUS crude oil and gasoline inventories rise, distillates fall, EIA says
U.S. crude oil and gasoline inventories rose while distillates fell last week, the Energy Information Administration said on Wednesday. Crude inventories rose by 3.9 million barrels to 417 million...
View ArticleOPEC+ panel sticks to output policy, doubles down on compliance
A meeting of top OPEC+ ministers has kept oil output policy unchanged including a plan to start raising output from December, while also emphasising the need for some members to make further cuts to...
View ArticleOil prices up 1% on Middle East tensions; US crude stocks build limits gains
Oil prices climbed 1% on Wednesday on worries that the escalating conflict in the Middle East could threaten oil supplies from the world’s top producing region, but a large build in U.S. crude...
View ArticleOPEC+ doing ‘noble’ job of balancing oil market, says UAE
United Arab Emirates Energy Minister Suhail al-Mazrouei said OPEC+ was doing a noble job of balancing the oil market even if does not produce the majority of oil in the world. “OPEC+ has sacrificed...
View ArticleRussia’s Novak says market wary of oil supply cuts due to Middle East conflict
Russian Deputy Prime Minister Alexander Novak said on Wednesday that oil prices have increased as markets do not rule out a decline in oil supply due to the conflict in the Middle East. In televised...
View ArticleThe Commodities Feed: Markets await Israeli response
Energy – Iranian supply risk & Saudi unhappiness Oil prices continued their move higher yesterday amid the uncertainty over how Israel will respond to Iran’s missile attack. At one stage yesterday,...
View ArticleOil climbs on prospects of wider MidEast war, ample supply caps gains
Oil prices rose on Thursday as the prospect of a widening Middle East conflict that could disrupt crude oil flows from the key exporting region overshadowed a stronger global supply outlook. Brent...
View ArticleMiddle East Crude-Benchmark premiums little changed while Murban gains
Spot premiums for Middle East crude benchmarks Oman and Dubai were little changed on Thursday while Murban premiums gained after two sessions of declines. INVENTORIES: – U.S. crude oil inventories rose...
View ArticleOPEC oil output drops in September on Libyan outage, Reuters survey finds
OPEC oil output fell in September to its lowest this year, a Reuters survey found on Thursday, as unrest disrupted Libyan supply and Iraq made progress in complying with its cutbacks pledged to the...
View ArticleWestwood Insight – The North Sea semisub market may seem buoyant, but looks...
The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand....
View ArticleRussia says OPEC+ ceding oil market share for long-term stability
OPEC+ is strategically reducing oil supply and ceding market share with a long-term view so that the producing countries secure enough investments, while oil prices suit both producers and consumers,...
View ArticleOPEC+ could cushion Iran oil shock but not broader disruption
OPEC has enough spare oil capacity to compensate for a full loss of Iranian supply if Israel knocks out that country’sfacilities but the producergroup would struggle if Iran retaliates by hitting...
View ArticleIran cuts October light crude price to Asia
Iran has set the official selling price (OSP) for its light crude oil grade for Asian buyers at $1.70 a barrel above the Oman/Dubai average for October, state-owned National Iranian Oil Company (NIOC)...
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