June 30th 2022 Germany Hopes to Import LNG from Canada to Speed Transition Away from Russian fuel German Chancellor Olaf Scholz used a meeting with Canadian Prime Minister Justin Trudeau to push for closer energy ties as his ruling coalition in Berlin races to find alternatives to Russian fossil fuels.Germany hopes to import liquefied […]
Fuel prices are falling steeply this morning as the market digests two weeks of EIA data, which delayed its reporting due to technical issues. Adding to market volatility, OPEC+ agreed to continue with their plan and raise production in August. The OPEC+ deal runs through the end of September, after which countries will technically be […]
Summary by Alan Apthorp Price cap on Russian oil could shake up the market Europe and the United States have barred the import of Russian oil to cut off a crucial revenue source for the Kremlin. But the plan to pile pain on President Vladimir Putin, forcing him to reconsider his war in Ukraine, […]
Diesel prices closed at their lowest point since June 1 yesterday, ending the day at $4.19. Just a few weeks ago, the CME diesel futures contract was trading more than 35 cents higher, so the decline provides a bit of relief from record-high prices. So how does today’s price stack up against historical prices? Before […]
June 28th 2022 Buyers Scramble To Lock In Long Term LNG Contracts In 2022 Demand for long-term LNG contracts has increased sharply in the current year, with suppliers taking advantage of robust demand thanks to a global effort to cut Russian imports by demanding much higher rates for new long-term contracts. According to an Oil […]
For the past several months, Russia has been the focal point of the energy crisis. Russia is the world’s third-largest oil producer, so it makes sense that western energy sanctions on Russia would severely impact oil and other energy commodities. And because energy is a global market, it’s no surprise that high oil prices have […]
Fuel prices are mixed this morning, with crude oil prices trending higher while fuel prices move lower. Despite today’s uptick, the crude oil market has been shifting lower this month. Early in June, prices crept upwards to $122 per barrel; now, prices have been consistently below $110. Although fuel prices don’t always follow crude oil, […]
Crude oil prices are on track to post some losses this week, but that’s not translating to fuel price relief. After last Friday’s closing price of $109/bbl, crude oil sprung higher on Tuesday after the long trading weekend. However, statements on interest rates from Federal Reserve officials stoked recession fears, causing prices to fall later […]
June 23rd 2022 (003) US LNG Projects Goes Ahead as Long-term Buyers Line Up Mounting concerns over energy security are driving global LNG buyers to sign long-term supply contracts—revitalizing the outlook for US LNG projects that have been under development. With Russia’s invasion of Ukraine exacerbating a tight market for natural gas globally and demand […]
Drone crashes into Russian oil refinery in possible attack Dramatic footage has emerged from Russia of what appears to be a drone crashing into an oil refinery and setting off a fiery explosion in what could be an attack inside Russia’s borders. Video shared on social media showed the unmanned aerial vehicle crashing into the […]
