Commodity Pricing

Source: World Oil

Biden’s net-zero climate policies drive a 23% hike in U.S. coal usage

World Oil


NEW YORK (Bloomberg) –Donald Trump vowed to revive the coal industry, but it’s President Joe Biden who’s driving a big comeback of the dirtiest fossil fuel.

U.S. power plants are on track to burn 23% more coal this …

Source: World Oil

Putin ready to send more Russian gas to Europe, blames flawed policies for shortage

World Oil


MOSCOW (Bloomberg) – Russia is ready to deliver all of the natural gas that Europe needs, said President Vladimir Putin, blaming the continent’s current energy crisis on flawed policies rather than a lack of supply.

Europe’s largest gas …

Source: Reuters

OPEC trims 2021 demand forecast but says gas price surge could help

Reuters


LONDON -OPEC has trimmed its world oil demand growth forecast for 2021 while maintaining its 2022 view, its monthly report showed on Wednesday, but it said surging natural gas prices could boost demand for oil products as end users …

Source: Reuters

Blackrock CEO says the world is on track to lose climate change fight

World Oil


(Bloomberg) –BlackRock Inc. Chief Executive Officer Larry Fink said emerging economies need about $1 trillion a year over the next three decades for the world to achieve carbon neutrality.

“Right now the emerging world is getting about $150 …

Source: Yahoo Finance

Biden’s options to tame gas prices clash with his climate agenda

Bloomberg


President Joe Biden is under intensifying pressure to keep a lid on rising gasoline and natural gas prices that threaten the economic recovery and Democrats’ political ambitions.

But he has little power to control global energy markets.

“The toolbox …

Source: Reuters

Oil whipsaws in volatile session on energy crunch fears

Reuters


Oil prices steadied after whipsawing in a volatile session on Tuesday, as traders weighed the effect that higher energy costs could have on the global economic recovery.

 

Brent crude fell 4 cents to $83.61 a barrel by 10:46 …

Source Reuters

Energy crunch stokes inflation, economic recovery concerns

Reuters


BEIJING, Oct 12  – Authorities from Beijing to Delhi scrambled to fill a yawning power supply gap on Tuesday, triggering global stock and bond market wobbles on worries that rising energy costs will stoke inflation and curtail an economic …

Source: Reuters

Oil above $80 spurs a Permian shale drilling revival

World Oil


HOUSTON (Bloomberg) –Oil prices around $80 a barrel are once again spurring a revival of shale drilling in America’s biggest oil field, where production is expected to return to pre-pandemic highs within weeks.

Only this time, the surge …

Source: Reuters

Crude jumps to multi-year highs on global energy crunch

Reuters


LONDON  – Oil prices rose by about 2% on Monday, extending gains as an energy crisis grips major economies amid a pick-up in economic activity and restrained supplies from major producers.

Brent crude was up $1.45, or 1.8%, at …

Source: Reuters

Qatar powerless to ease global energy crisis

Reuters


DOHA/LONDON – Qatar, the world’s largest seller of liquefied natural gas (LNG), told consumers it was powerless to cool energy prices prices as British steelmakers said they could be forced to halt output in the face of soaring costs.…

Source: Reuters

China digs in on coal, oil gains as energy crisis deepens

Reuters


China ordered miners in Inner Mongolia to ramp up coal production and oil prices jumped on Friday as a record surge in the cost of gas revived demand for the most polluting fossil fuels to keep factories open and

Source: Reuters

Oil rises as global energy crunch takes hold

Reuters


LONDON – Oil prices rose on Friday to trade 4% up on the week, buoyed by a global energy crunch that has helped gas prices to record highs and prompted China to demand increased coal production.

Energy markets have …

U.S. shale drillers show restraint as oil prices rally, adding to OPEC leverage

U.S. shale drillers show restraint as oil prices rally, adding to OPEC leverage

World Oil


HOUSTON (Bloomberg) – U.S. shale oil production will expand at a “modest rate” over the next 18 months even as prices touch multiyear highs, according to BloombergNEF, leaving OPEC in a powerful position as the world cries out …

Source: CNBC

Oil prices could hit an ‘off the charts spike,’ says strategist

CNBC


Oil prices could experience an “off the charts spike” as winter approaches and OPEC and its allies stick to their earlier pact on oil output, a strategist told CNBC.

OPEC+ — the Organization of the Petroleum Exporting Countries, with …

Source: Reuters

Saudis cut oil prices after OPEC+ restraint fuels rally

World Oil


(Bloomberg) –Saudi Arabia reduced oil prices for its main buyers, a day after OPEC+ sent crude futures surging by sticking to a plan for slow and steady supply increases.

State firm Saudi Aramco’s cuts for customers in Asia, …

Source: bloomberg.com

Today’s global energy crisis is just the first in the “clean power” era

World Oil


(Bloomberg) –The world is living through the first major energy crisis of the clean-power transition. It won’t be the last.

The shortages jolting natural gas and electricity markets from the UK to China are unfolding just as demand …

Source: Reuters

COLUMN-How high are oil prices really? Kemp

Nasdaq


How high are oil prices really and what signal are they currently sending to producers and consumers about the need for more output and lower fuel use?

The strength of a price signal depends on both the real level …

Source: World Oil

Oil prices reach seven-year high as OPEC keeps crude supply tight

World Oil


SINGAPORE (Bloomberg) –Oil rose to a new seven-year high after OPEC+ chose to keep supplies fairly tight even as the world grapples with an energy crunch.

Futures climbed above $78 a barrel in New York after surging 2.3% …

Source: Reuters

European natural gas prices hit new records as supply concerns grow

World Oil


(Bloomberg) –European natural gas and power soared to fresh records amid worsening fears over supply.

 

Global fuel shortages are resulting in surging energy prices, disrupting markets from the UK to China, as economies emerge from the pandemic. …

Source: CNBC

Oil analysts predict a prolonged rally as OPEC resists calls to ramp up supply

CNBC


LONDON — Oil prices climbed to multi-year highs shortly after a group of some of the world’s most powerful oil producers opted against a big supply boost.

Now energy analysts believe crude prices could be poised to rally toward …

Source: Reuters

Column-Hedge funds flock to oil as energy shortages worsen: Kemp

Reuters


LONDON – Rising oil prices and the spreading global shortage of coal, gas and electricity have drawn fresh buying interest from hedge funds and other money managers in oil-related derivatives contracts.

Portfolio managers purchased the equivalent of 42 million …

Source: Reuters

Fossil fuel demand shakes off pandemic in blow to climate fight

Reuters


LONDON – Demand for coal and natural gas has exceeded pre-COVID-19 highs with oil not far behind, dealing a setback to hopes the pandemic would spur a faster transition to clean energy from fossil fuels.

Global natural gas shortages, …

Source: CNBC

OPEC+ sticks to plan for gradual oil output hike, price roars higher

CNBC


OPEC+ agreed on Monday to stick to an existing pact to hike oil output by 400,000 barrels per day (bpd) in November, despite consumer calls for more crude and surging prices that threaten an economic recovery from the pandemic.…

Source: Reuters

EXCLUSIVE Commodity traders face big margin calls as gas prices soar

Nasdaq


LONDON – The world’s top commodity trading houses are being told by brokers and exchanges to deposit hundreds of millions of dollars in extra funds to cover their exposure to soaring gas prices, seven sources with direct knowledge of …

Source: Reuters

Oil prices may hit $100 this winter, spurring economic crisis, warns Bank of America

World Oil


SINGAPORE (Bloomberg) –The global energy crunch could help propel oil prices above $100 a barrel for the first time since 2014 and spur a global economic crisis, according to Bank of America.

Natural gas prices have already surged …

Source: Reuters

European gas prices hit all-time highs as Russian flows slump

Nasdaq


MOSCOW – European gas prices surged to all-time highs on Friday as Russia kept a tight lid on supply, signalling further price pressures on European consumers heading into the winter heating season.

Russian gas supplies via the Yamal-Europe pipeline …

Source: Reuters

Oil rises above $78 as OPEC+ meeting looms

Reuters


LONDON – Oil rose above $78 a barrel on Friday, within sight of this week’s three-year high, supported by tight supplies due to OPEC+ supply curbs, recovering demand and a weaker U.S. dollar.

The Organization of the Petroleum Exporting …

Source: World Oil

OPEC and major oil companies each see a different path to energy transition

World Oil


WASHINGTON (Bloomberg) – Two of Big Oil’s biggest players dropped their long-term energy outlooks this week: French energy company TotalEnergies and the Organization of the Petroleum Exporting Countries. They offer quite different visions of the world 25 years …

Source: Reuters

Column-Hurricane Ida’s lingering effects tighten global oil market: Kemp

Reuters


LONDON – Hurricane Ida’s extensive and unexpectedly lingering disruption to output in the Gulf of Mexico has been the single most important factor contributing to the surge in oil prices over the last month.

Damage to offshore installations has …

Source: Reuters

OPEC+ seen sticking to November output plans, despite $80 oil, sources say

Reuters


LONDON/MOSCOW (Reuters) – OPEC+ is likely to stick to an existing deal to add 400,000 barrels per day (bpd) to its output for November when it meets next week, sources said, despite oil hitting a three-year high above $80 …