Natural Gas News – October 7, 2021 A cargo ship of LNG costs $281m. It was just $10m in 2020 Soaring international gas prices have triggered a near 30-fold spike in the value of a single spot cargo ship of LNG to more than $US205 million ($281.8 million) in a price surge that delivers a […]
This morning prices fell again, following the same trend of the previous session. These sharp decreases in prices come after the United States government said they would consider the idea of selling oil from their strategic reserves. Today crude oil opened at $77.00, diesel at $2.4377, and gasoline at $2.3048. The Strategic Petroleum Reserve, or […]
Fuel prices are recovering a bit this morning following yesterday’s 7-year high. Traders are closing out positions to cash in their gains, an action known as profit-taking. At the same time, last week’s filing from the Securities Exchange Commission (SEC), which tracks commodity market trading activity, showed that hedge funds and other institutional investors are […]
Hyperinflation Could Send Oil Prices Above $180 Last year, shortly after the World Health Organization (WHO) declared Covid-19 a global pandemic, governments everywhere unveiled massive monetary and fiscal stimuli (over $15T globally) in a bid to forestall the economic fallout of the pandemic. The U.S. federal government stepped in with a broad array of measures, pumping about […]
Oil markets are experiencing some explosive growth this morning following news that OPEC is sticking to its current output strategy. Both diesel and crude oil are trading at 7-year highs, while gasoline trades close to multi-year highs. Post-pandemic supply chain challenges have been universal across different industries, and oil markets are beginning to feel it […]
Natural Gas News – October 5, 2021 Henry Hub gas futures prices flirt with $6 level amid sustained supply crunch NYMEX Henry Hub prompt-month futures surged briefly to over $6 in Oct. 4 trading as US gas production stumbles below 90 Bcf/d with storage inventories still trailing typical pre-winter levels. The November contract ended trading […]
This morning crude opened at $75.90, hitting a high of $77.26 so far. With diesel and gasoline opening at high prices of $2.3826 and $2.2450, respectively, there seems to be a trend of rising prices ahead of the much-anticipated OPEC+ meeting later today. Also making headlines, a southeastern fuel pipeline has been shut down after […]
In case you hadn’t heard, there’s a global energy crisis. Or, perhaps not. We’ll explain. There have been a slew of energy challenges around the world. In China, big companies are facing quotas on how much power they can use. In Europe, natural gas prices are up 1,300% since May 2020 due to low […]
This week saw major headlines for oil markets as crude hit a near three-year high on Monday, DEF prices exploded, and inventory reports showed rising crude stocks. Oil prices have risen over the past few weeks in the wake of two storms causing an estimated $40 billion in damages. On Monday, a peak of trading […]
Today oil prices fell over $1.50 a barrel as inventory reports show a sharp increase during the week of September 24. This rise in inventory levels and the stronger dollar have clouded the recent supply forecasts predicting deficits in the future. Crude oil opened the day at $74.78, diesel at $2.3180, and gasoline at a […]
