Natural Gas News – February 26, 2020 Japan Will Remain A Key Market For U.S. Liquefied Natural Gas Forbes: Japan has been the world’s largest liquefied natural gas (LNG) importer for a very long time. Since U.S. LNG exports from shale started in February 2016, Japan has been its third largest importer, after South Korea […]
In Asia, Europe, and the Middle East hundreds of new cases of the coronavirus, COVID-19, have been reported. The virus has been found in about 30 countries. In the US, the Center for Disease Control warned of the inevitable outbreak of the virus. The organization is preparing for “severe” disruptions to daily life in the […]
OPEC hasn’t run out of ideas, Saudi energy minister insists as oil prices slump OPEC and its allied oil-producing nations are still working well together and still have options to try to rebalance global crude markets, Saudi Energy Minister Prince Abdulaziz bin Salman said Tuesday. “We do communicate with each other, we use every opportunity […]
Crude prices are relatively flat this morning after yesterday’s large drop, the largest drop in almost seven weeks. Investors are trying to gauge the economic consequences of the quickly spreading coronavirus and whether it will become a global pandemic. Goldman Sachs says certain economic metrics appear at least 20% below what is normally seen this […]
Yesterday brought moderate gains for oil prices thanks to a relatively bullish EIA inventory report. Crude inventories showed a 0.4-million barrel build, well below market expectations and API forecasts. Both diesel and gasoline stocks fell on the week, providing some support for prices. Today, oil prices are plummeting following comments from Russia’s Energy Minister Novak […]
The crude market was up for the week but is down in early trading this morning. The major news moving markets this week were the news of sanctions from the US on a subsidiary of the Russian oil company, Rosneft. Also in the news, continued deterioration of the situation in Libya and lower oil output […]
Yesterday, oil prices reached their highest level this month as US sanctions on Russian oil company, Rosneft, and unrest in Libya added more uncertainty and concerns for the global crude supply. Crude prices are up this morning on optimism that China will enact economic stimulus to soften the demand destruction caused by the coronavirus. Chinese […]
Nat Gas News US natural gas operator shuts down for 2 days after being infected by ransomware Ars Technica: A US-based natural gas facility shut down operations for two days after sustaining a ransomware infection that prevented personnel from receiving crucial realtime operational data from control and communication equipment, the Department of Homeland Security said […]
Yesterday, oil started the session over2% lower after OPEC officials scrapped plans for an emergency meeting in February. OPEC+ plans to keep to its scheduled meeting coming up in March. Russia is still considering the further cuts of 600 kbpd suggested by Saudi Arabia. Russia’s Energy Minister Alexander Novak and his Saudi Arabian counterpart Prince […]
Waiting on an IMO Diesel Spike One of the widely-held expectations concerning the International Maritime Organization’s (IMO) 2020 sulfur cap on marine fuels was that the price of gasoil/diesel would spike in the opening months of 2020, as demand for gasoil in the bunker market would strain existing supplies and push prices higher. Six weeks […]
